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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