Opioid Exposure Risk Intensifying For Generic Drug Makers
Business fundamentals took a back seat to opioid litigation in the second quarter for generic drug makers, including Teva, Mallinckrodt and Endo Pharmaceuticals.
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The company has reached a broad opioid settlement agreement in principle under which its specialty generics subsidiaries would file for Chapter 11 bankruptcy and Mallinckrodt's branded business would operate separately.
The Novartis unit moved to recall all lots of ranitidine capsules in the US due to confirmed contamination with NDMA.
Purdue's rise and fall through opioids will likely end in bankruptcy, raising new questions around ongoing lawsuits and shining a light on the toll the opioid liability will leave on the industry.