Un­der a cloud of opi­oid law­suits, Mallinck­rodt sus­pends spe­cial­ty gener­ics spin­off

Mallinck­rodt $MNK is halt­ing plans to spin off its spe­cial­ty gener­ics busi­ness, cit­ing “cur­rent mar­ket con­di­tions and de­vel­op­ments, in­clud­ing in­creas­ing un­cer­tain­ties cre­at­ed by the opi­oid lit­i­ga­tion.”

The UK drug­mak­er had in­tend­ed to es­tab­lish a new, pub­licly-trad­ed com­pa­ny bear­ing the Mallinck­rodt name while re­nam­ing the spe­cial­ty brands unit Sono­rant Ther­a­peu­tics and adopt­ing the new sym­bol $SRTX. It first an­nounced the spin­off last De­cem­ber at the end of a 2-year re­view.

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