October 2, 2023 7:03 am
WSJ: Mallinckrodt, Troubled Pharmaceutical Enterprise, Explores Promoting Opioid Division amid Bankruptcy

Bankrupt pharmaceutical organization Mallinckrodt is reportedly in discussions with main investors concerning the possible sale of its small business units, which could outcome in its exit from the opioid business. Some investors, who could acquire manage by way of the ongoing bankruptcy proceedings, are recommending that Mallinckrodt break up its small business into separate units. The organization has not however offered a comment on the matter. Final month, Mallinckrodt filed for its second bankruptcy in the United States, with a restructuring program aimed at lowering its $1 billion owed to victims of the U.S. opioid crisis. The organization previously filed for bankruptcy in 2020 to address its substantial debt, lawsuits more than the advertising of addictive opioids, and disputes about drug pricing. Mallinckrodt, which produces each branded and generic drugs, agreed to spend $1.7 billion as aspect of its program to emerge from bankruptcy in June 2022, settling roughly three,000 lawsuits that accused the organization of deceptive advertising practices to increase opioid sales. Not too long ago, the organization also received a grand jury subpoena from the U.S. Attorney’s Workplace, requesting details concerning its reporting of suspicious opioid orders to the Drug Enforcement Administration.

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