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Senvest Management shorting drug stocks Insys, Akorn, Fresenius
October 3, 2017 / 9:19 AM / 21 days ago

Senvest Management shorting drug stocks Insys, Akorn, Fresenius

TEL AVIV, Oct 3 (Reuters) - New York-based Senvest Management is shorting three drug stocks, Insys Therapeutics Inc , Akorn Inc and Fresenius SE, its chief executive Richard Mashaal said on Tuesday,

Speaking at the Sohn Conference in Tel Aviv, Mashaal said he sees more downside for Insys whose drug Subsys has become the focus of several U.S. federal and state investigations amid a national opioid epidemic.

Insys’s founder John Kapoor is also chairman of generic drugmaker Akorn, which German healthcare group Fresenius agreed to buy in April for $4.75 billion. (Reporting by Tova Cohen; Editing by Steven Scheer)

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