Mallinckrodt mauled amid claims that its opioid role could prove fatal

5 September 2019

Ireland-registered drugmaker Mallinckrodt (NYSE: MNK) was trading 42% down by lunchtime on Thursday as markets mused over reports of increased risk from litigation relating to the opioid crisis.

An analyst with a sell rating on the firm dropped his valuation from $5 to $1, and Bloomberg reported that Mallinckrodt had hired restructuring advisers to help limit its potential legal liabilities.

States, cities and other claimants across the USA allege that opioid manufacturers downplayed the addictive risks of their products.

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