Drowning in litigation, Mallinckrodt becomes third opioid producer to file for bankruptcy
Beset by hundreds of opioid lawsuits and hundreds of millions in payments owed under a recent federal ruling on one of their best-selling drugs, Mallinckrodt, the 150-year-old Irish drugmaker, has filed for Chapter 11 bankruptcy.
Mallinckrodt, a company that once sold more opioids in the US than any other, becomes the third major opioid producer to file for bankruptcy amid a sea of litigation. Purdue Pharma and Insys Therapeutics each filed for bankruptcy last year.
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