• Sat. Sep 23rd, 2023

WSJ: Mallinckrodt, Troubled Pharmaceutical Organization, Explores Promoting Opioid Division amid Bankruptcy

ByEditor

Sep 19, 2023
WSJ: Mallinckrodt, Troubled Pharmaceutical Organization, Explores Promoting Opioid Division amid Bankruptcy

Bankrupt pharmaceutical enterprise Mallinckrodt is reportedly in discussions with significant investors concerning the possible sale of its business enterprise units, which could outcome in its exit from the opioid market. Some investors, who may possibly obtain manage via the ongoing bankruptcy proceedings, are recommending that Mallinckrodt break up its business enterprise into separate units. The enterprise has not but offered a comment on the matter. Final month, Mallinckrodt filed for its second bankruptcy in the United States, with a restructuring program aimed at decreasing its $1 billion owed to victims of the U.S. opioid crisis. The enterprise previously filed for bankruptcy in 2020 to address its substantial debt, lawsuits more than the marketing and advertising of addictive opioids, and disputes about drug pricing. Mallinckrodt, which produces each branded and generic drugs, agreed to spend $1.7 billion as element of its program to emerge from bankruptcy in June 2022, settling roughly three,000 lawsuits that accused the enterprise of deceptive marketing and advertising practices to increase opioid sales. Lately, the enterprise 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.