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Mallinckrodt Files For Chapter 11 Bankruptcy Protection

Company Remains Committed To Generics Separation

 
• By Dean Rudge

After threatening it for some time, Mallinckrodt has initiated Chapter 11 bankruptcy proceedings, succumbing to thousands of claims over its part in the US opioid epidemic.

Bankruptcy Closeup Concept. American Dollars Cash Money,3D rendering. Bankruptcy at Dollar Banknote. Financial USA money banknote Commercial money investment profit concept - Illustration
The bankruptcy filing will help resolve legal liabilities from opioids and CMS matters over Acthar Gel • Source: Shutterstock

Beleaguered Mallinckrodt has filed for Chapter 11 bankruptcy protection in the US, overwhelmed with potential claims stemming from its part in the country’s opioid abuse epidemic and a bill for $650m resulting from the way the company calculated rebates for its best-selling drug, the Acthar Gel (repository corticotropin) injectable.

Bankruptcy proceedings initiated in the US Bankruptcy Court for the District of Delaware are intended to provide for a restructuring...

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