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Mallinckrodt Delays Generics Spinoff

 
• By Penelope MacRae

Mallinckrodt has put on hold its plan to spin off its specialty generics business due to investor worries about potentially big payouts arising from ongoing US opioids litigation.

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Mallinckrodt has put off its planned generics spinoff • Source: Shutterstock

Mallinckrodt is “suspending” its plan to spin off its specialty generics business, which includes oxycodone and hydrocodone, into a separate company amid market nervousness about the proposed standalone firm’s exposure to potentially big opioid lawsuit payouts.

The company, which is run out of Hazelwood, Missouri and was the largest manufacturer of oxycodone and hydrocodone pain pills when the US opioid crisis was escalating between 2006 and 2012, had said earlier the spin-off could help

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