Mallinckrodt Considers Bankruptcy Over Opioid Lawsuits

The small-cap drugmaker Mallinckrodt (NYSE: MNK) is reportedly considering a Chapter 11 bankruptcy according to the Wall Street Journal. Due to extensive liabilities surrounding its many opioid lawsuits, the company is now in confidential talks with creditors regarding its generic drug business..

Although Mallinckrodt refused to comment to the WSJ, it's been widely known that the company has considered either selling off or separating its generic drug business -- which is involved in selling opioids -- from its specialty drug business.

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Source Fool.com