Drugmaker Mallinckrodt Plc has begun confidential discussions with creditors and...
Shares of the company fell 43% on resuming trade, after being halted.
A number of U.S. states and local governments have filed lawsuits against opioid drugmakers and wholesale distributors holding them accountable for a national drug addiction epidemic. Earlier in 2019, the company had said it was focusing on separating its generics unit, which sells opioid drugs, from its specialty business.
OxyContin maker Purdue Pharma LP in September 2019 filed for bankruptcy to halt about 2,000 lawsuits and allow Purdue to negotiate legal claims with plaintiffs under the supervision of a U.S. bankruptcy judge. Mallinckrodt is among several opioid manufacturers and distributors set to go to trial next month over allegations brought by New York Attorney General Letitia James related to the marketing and distributing of opioids.
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