Deals
Mallinckrodt Puts Off Planned Generics Spinoff Amid Opioid Cases
- Drugmaker and rivals face lawsuits tied to addiction epidemic
- CEO says split of company likely ‘sooner rather than later’
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Mallinckrodt Plc said it would suspend the spinoff of its specialty-generics business as it grapples with a wave of lawsuits related to opioid painkillers and a bruising marketplace for copycat medicines.
The company is still considering a range of options for splitting off the business and hopes to separate it “sooner rather than later” through a spinoff or sale, Chief Executive Officer Mark Trudeau said on a call with investors.