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Insys Therapeutics Reports Preliminary Estimated Revenues from Subsys for the First Quarter 2016

PHOENIX, April 11, 2016 (GLOBE NEWSWIRE) -- Insys Therapeutics, Inc. (NASDAQ:INSY) ("Insys" or "the Company") today announced that its preliminary estimated revenues from Subsys® (fentanyl sublingual spray) for the first quarter of 2016 will be in the range of $61 million to $62 million. Estimated revenues for the quarter reflect a decline in demand, as Subsys prescription volumes were down, as well as a reduction in wholesale inventory levels. The Company estimates the decrease in wholesale channel inventory levels to be in the range of $7 million.

The Company believes that heightened publicity surrounding the national opioid epidemic has resulted in a sensitivity by some healthcare providers to prescribe opioids. The Company expects the Subsys prescription decline is close to stabilizing. At the current sales levels, the Company believes it will remain profitable and intends to pursue all of its research and development projects.

Today's preliminary estimate of revenues from Subsys, which is unaudited, is based on management's preliminary financial analysis.