Jun 10, 2019

Opioid maker Insys files for bankruptcy

Opioid manufacturer Insys has filed for bankruptcy — which means it will only pay out a portion of its recent $225 million settlement with the federal government, the Wall Street Journal notes.

Why it matters: Insys executives have been found guilty of bribing doctors to prescribe its painkiller, Subsys, and the legal fallout has now forced the company into bankruptcy. And it's just the tip of the iceberg: State officials still have their sights set on big drug distributors and other manufacturers — most notably Purdue Pharma.

Go deeper

Kim Hart, Sara Fischer

Coronavirus breaks the telecom bundle

Reproduced from Park Associates "Broadband Services in the U.S." report; Note: 2019 survey was conducted in Q3, with 10,059 respondents and a ±1% margin of error; Chart: Axios Visuals

Consumers are adopting stand-alone broadband services at a much higher rate than just two years ago, and analysts predict that the economic downturn prompted by the COVID-19 outbreak will accelerate the trend.

Why it matters: With a recession looming, consumers may look to cut pay TV service in favor of more robust standalone internet packages once they're free to leave their homes.

Go deeper11 mins ago - Economy & Business

Erica Pandey

America's funeral homes buckle under the coronavirus

Illustration: Aïda Amer/Axios

Morgues, funeral homes and cemeteries in hot spots across America cannot keep up with the staggering death toll of the coronavirus pandemic.

Why it matters: The U.S. has seen more than 10,000 deaths from the virus, and at least tens of thousands more lives are projected to be lost. The numbers are creating unprecedented bottlenecks in the funeral industry — and social distancing is changing the way the families say goodbye to their loved ones.

Go deeper1 hour ago - Health

Jonathan Swan, Margaret Talev

Navarro memos warning of mass coronavirus death circulated in January

Image from a memo to President Trump

In late January, President Trump's economic adviser Peter Navarro warned his White House colleagues the novel coronavirus could take more than half a million American lives and cost close to $6 trillion, according to memos obtained by Axios.

The state of play: By late February, Navarro was even more alarmed, and he warned his colleagues, in another memo, that up to two million Americans could die of the virus.

Go deeperUpdated 2 hours ago - Health