Mallinckrodt plc Ordinary Shares (MNK) News
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MNK News Highlights
- For MNK, its 30 day story count is now at 14.
- Over the past 25 days, the trend for MNK's stories per day has been choppy and unclear. It has oscillated between 1 and 4.
- The most mentioned tickers in articles about MNK are TOP, DRUG and PAY.
Latest MNK News From Around the Web
Below are the latest news stories about MALLINCKRODT PLC that investors may wish to consider to help them evaluate MNK as an investment opportunity.
Drugmaker Mallinckrodt files for second bankruptcy in USDrugmaker Mallinckrodt on Monday filed for its second bankruptcy in three years in the United States, with a restructuring plan that would cut $1 billion from what it owes to victims of the opioid crisis. The New York Stock Exchange said it has suspended trading in Mallinckrodt's ordinary shares with immediate effect and has commenced proceedings to delist them from the exchange. Mallinckrodt, which makes both branded and generic drugs, had first filed for bankruptcy in 2020 to address its high debt load, litigation over its marketing of highly addictive generic opioids and disputes over its drug pricing. |
UPDATE 3-Drugmaker Mallinckrodt files for second bankruptcy in USDrugmaker Mallinckrodt on Monday filed for its second bankruptcy in three years in the United States, with a restructuring plan that would cut $1 billion from what it owes to victims of the opioid crisis. The New York Stock Exchange said it has suspended trading in Mallinckrodt's ordinary shares with immediate effect and has commenced proceedings to delist them from the exchange. Mallinckrodt, which makes both branded and generic drugs, had first filed for bankruptcy in 2020 to address its high debt load, litigation over its marketing of highly addictive generic opioids and disputes over its drug pricing. |
Mallinckrodt plc Takes Next Step to Implement Comprehensive Financial Restructuring Plan to Address Long-Term Debt and Opioid ObligationsMallinckrodt plc (NYSE American: MNK) ("Mallinckrodt" or the "Company"), a global specialty pharmaceutical company, today announced that it has taken the next step to implement the comprehensive financial restructuring plan contemplated by a Restructuring Support Agreement ("RSA") the Company previously entered into with more than 85% of each of the Company's first and second lien debtholders and the Opioid Master Disbursement Trust II (the "Trust"), as announced on August 23, 2023. |
PRESS DIGEST- Wall Street Journal - Aug 24The following are the top stories in the Wall Street Journal. - Woodside Energy reached a preliminary deal with disaffected workers at some of its natural gas export facilities in Australia, a move that could head off a walkout that risked disrupting global gas supply and jolting worldwide energy prices. - Shortly after 6 p.m. Moscow time on Wednesday, an Embraer jet carrying Wagner paramilitary group owner Yevgeny Prigozhin, who led a short-lived June uprising that challenged Russian President Vladimir Putin's authority, abruptly disappeared from flight-tracking radar screens northwest of Moscow. |
PRESS DIGEST-New York Times business news - Aug 24The following are the top stories on the New York Times business pages. - Mark Thompson, a former top executive at The New York Times and the BBC, is one of several people in talks to lead CNN. - Drugmaker Mallinckrodt said on Wednesday it expects to file for a second bankruptcy in the coming days, after reaching a debt reduction deal that would cut $1 billion from the amount it owes to victims of the opioid crisis. |
MNK Stock Alert: Mallinckrodt Files for Bankruptcy AgainMallinckrodt (MNK) stock isn't doing so hot on Wednesday after the pharmaceutical company gets ready for another bankruptcy filing. |
Nikola Preps for Resale of 10 Million Shares of NKLA StockNikola (NKLA) stock is a hot topic among traders on Wednesday after the EV company revealed the reselling of its shares. |
Mallinckrodt Lenders to Take Control in Bankruptcy That Cuts $1 Billion in Opioid PaymentsMallinckrodt agreed to hand lenders control of the pharmaceutical company through its second bankruptcy filing in three years while reducing by roughly $1 billion the settlement payments it had pledged for its alleged role in the opioid crisis. |
Mallinckrodt: legal rejig may slash $1.1bn from opioid victims’ trustMallinckrodt was supposed to be the best-practice “mass tort” bankruptcy case. Instead a trust charged with helping victims of America’s drugs epidemic could end up $1.1bn worse off. Purdue Pharma, Johnson & Johnson and 3M made deft use of quirks in the US’s Chapter 11 bankruptcy process. |
Mallinckrodt second bankruptcy would cut $1 billion from opioid settlementThe agreement announced Wednesday would reduce Mallinckrodt's debt by about $1.9 billion and cancel existing equity shares. Mallinckrodt's creditors would end up owning the company, which previously filed for bankruptcy in 2020. The new deal would leave opioid creditors with $1 billion less than the $1.7 billion settlement that Mallinckrodt agreed to pay as part of its 2022 exit from the company's earlier bankruptcy. |