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Depomed Board of Directors Shaken Up While Insys Therapeutics Appoints a New CEO

NEW YORK, NY / ACCESSWIRE / March 29, 2017 / Depomed continued the shakeup of its Board of Directors, while Insys reorganizes its own board. Both companies were down slightly, after there was an announcement of a Federal investigation into their opioid market sale and regulations. The opioid problem has recently become the focus of attention for media and government officials.

RDI Initiates Coverage:

Depomed stumbled 4.50% to close at $14.23 on Tuesday. The stock traded between $14.84 and $14.13 on volume of 1,777,969 shares traded. The news for the company over the past few days has been anything but completely positive, as Senator Claire McCaskill, a Democrat from Missouri, has begun an investigation into the opioid prescription market. Depomed was one of five companies selected for the investigation, whose stated goal is to examine, "the challenges industry practices pose to efforts to curb opioid addiction." After trading hours, it was announced that the company has replaced its Chief Executive and appointed two new Directors...