Insys Therapeutics Inc, has entered into sales agreements to unload some of its drug assets for a combined $29.2 million as the Chandler, Ariz.-based pharmaceutical firm works through bankruptcy filing proceedings, ABC15.com reported. Insys will sell its naloxone and epinephrine nasal sprays and related assets and equipment to Hikma Pharmaceuticals USA Inc. for $17 million, according to a filing with the Securities and Exchange Commission . Per the purchase agreement, Eatontown, N.J.- based Hikma agreed to be responsible for cure costs and other specified liabilities. Insys also will sell its CBD formulations and other products to Chilion Group Holdings US Inc. for $12.2 million, according to the filing.
