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Mallinckrod likely to file for bankruptcy after $933.1 million Q2 loss

Christian Fernsby ▼ | August 5, 2020
Mallinckrod said it is likely to file for bankruptcy protection in the near term.
Bankruptcy   Mallinckrod
Mallinckrodt is in discussion with external advisors about options available and engaged in talks with financial creditors as well as litigation claimants. The company is yet to finalize any plans.

Topics: Mallinckrod bankruptcy

Mallinckrodt reported loss for the second quarter of $933.1 million compared to net income of $6.8 million in the year ago period.

The latest quarter's results include a $639.7 million impact from the retrospective Acthar Gel Medicaid rebate liability and a $63.5 million non-restructuring impairment of the Ofirmev (acetaminophen) injection intangible asset.

Net sales fell to $166.5 million from $823.3 million last year.