Mallinckrodt Finds An Exit Door For Generics In Proposed Opioid Settlement
The company has reached a broad opioid settlement agreement in principle under which its specialty generics subsidiaries would file for Chapter 11 bankruptcy and Mallinckrodt's branded business would operate separately.
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Last year, Mallinckrodt attempted restructuring the firm to evade bankruptcy fears. However, the company is now filing for bankruptcy for its US generics business to address “unmanageable liabilities.”