Chandler opioid maker Insys loses another top executive

PHOENIX – The CEO of bankrupt Chandler-based drugmaker Insys Therapeutics has resigned six months after being promoted.

Andrew Long will step down effective Nov. 8, according to a note in an SEC filing posted online last week.

Long informed the publicly traded opioids company Oct. 23 that he would also leave his spot on the board of directors.

The manufacturer is in the process of being sold off in bankruptcy court.

According to the filing, “The Company’s senior management team and Board of Directors will continue to manage, oversee and wind down the Company’s operations through the effective date of the Plan.”

In May, the fentanyl manufacturer’s founder, John Kapoor, and four co-defendants were convicted of racketeering in a bribery case that federal prosecutors said helped drive the country’s opioid epidemic.

Long took over in April over after Saeed Motahari gave notice.

The company reached a $225 million settlement in June, then filed for Chapter 11 bankruptcy shortly afterward.

By midsummer, 160 lawsuits had been filed against Insys. Arizona sued citing consumer fraud.

The state Attorney General’s Office accused Insys of directing employees to mislead insurance companies by telling them patients who were prescribed Subsys had cancer when they did not, according to the lawsuit.

Doctors were bribed to write the prescriptions.

Long joined the company as CFO in 2017.

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