Mallinckrodt PLC is preparing to file for bankruptcy within weeks, setting up a potential battle with state and local governments over the drugmaker’s alleged role in fueling opioid addiction in the U.S., according to people familiar with the matter. The Ireland-based company is negotiating with key creditors over a restructuring proposal covering more than $5 billion in debt, these people said. The framework for restructuring that debt isn’t supported by the states and U.S. territories that have sued Mallinckrodt and other...

Source: Wall Street Journal September 25, 2020 19:40 UTC