Salem Radio Network News Sunday, October 1, 2023


Drugmaker Mallinckrodt may file for bankruptcy again -WSJ

(Reuters) – Pharmaceutical company Mallinckrodt Plc is considering options including filing for bankruptcy again as a $200 million opioid settlement payment is due within weeks, the Wall Street Journal reported on Friday citing people familiar with the matter.

The drugmaker is required to make the payment to an opioid-victims compensation trust by mid-June as part of its chapter 11 exit plan, the newspaper said.

Mallinckrodt did not immediately respond to a Reuters request for comment outside office hours.

The company filed for bankruptcy protection nearly three years ago. It reached a $1.7 billion nationwide settlement as part of its bankruptcy reorganization plan and emerged from Chapter 11 last year.

Shares of Mallinckrodt closed 5.4% lower at $2.45 apiece on Friday. The stock has plunged 68% so far this year.

(Reporting by Anirudh Saligrama in Bengaluru; Editing by Edwina Gibbs)


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