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BioRestorative Therapies Emerges from Chapter 11 Reorganization
11/20/2020
BioRestorative Therapies, Inc., a life sciences company focused on stem cell-based therapies, announced that its amended joint plan of reorganization has become effective and it has emerged from Chapter 11 reorganization.
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Promaxo Incorporates Subsidiary Focused on Portable Head and Brain MRI
11/10/2020
In partnership with renowned imaging research center, Neuro42 to commercialize technology that helps physicians triage patients with neurological diseases and injuries sooner
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Pharmaceutical Giant Mallinckrodt Bankruptcy Threatens Lawsuit Filed by Local Unions and Delaware Valley Health Care Coalition, Worth Hundreds of Millions of Dollars
10/22/2020
In response to the pharmaceutical giant Mallinckrodt’s bankruptcy filing last week, Delaware Valley Health Care Coalition, Inc. (DVHCC) President John Heenan said, “Its crucial for our members to have a seat at the table for the bankruptcy proceedings.” The DVHCC is a non-profit voluntary association comprised of multi-employer trust funds, governmental entities, labor unions, schools and school districts in ov
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Mallinckrodt Receives Court Approval of "First Day" Motions to Support Business Operations
10/15/2020
Mallinckrodt plc announced that it has received approvals from the U.S. Bankruptcy Court for the District of Delaware for its "First Day" motions related to the Company' s voluntary Chapter 11 petitions filed on October 12, 2020.
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Aesculap, Inc. and Ascendco Health Announce Strategic Partnership
10/14/2020
Aesculap, Inc., an industry leader in sterile processing and operating room solutions, is pleased to announce its strategic partnership with Ascendco Health, an emerging health tech company.
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Mallinckrodt has filed for Chapter 11 bankruptcy amid growing lawsuits that allege the company has participated in fueling the opioid epidemic in the United States. -
Mallinckrodt Secures Broad Consensus with Key Stakeholders on Comprehensive Chapter 11 Restructuring
10/12/2020
Mallinckrodt plc announced that it has voluntarily initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to modify its capital structure, including restructuring portions of its debt, and resolve several billion dollars of otherwise unmanageable potential legal liabilities.
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Akorn Successfully Completes Sale to Lenders and Exits Chapter 11 Protection
10/2/2020
Company positioned to enter its next phase of growth with new ownership and a more sustainable capital structure
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Akorn Receives Court Approval of Sale to Lenders
9/2/2020
Akorn, Inc., a leading specialty pharmaceutical company, announced that the United States Bankruptcy Court for the District of Delaware has approved its sale to the Company's existing lenders.
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VIVUS Completes Solicitation for In-Court Reorganization Plan to Become a Wholly Owned Subsidiary of IEH Biopharma LLC
7/7/2020
VIVUS, Inc. (Nasdaq: VVUS; the “Company”), a biopharmaceutical company, today announced that it has completed the solicitation of an in-court prepackaged plan of reorganization, under which IEH Biopharma LLC (“IEH”) will take 100% ownership of VIVUS (the “Prepackaged Plan”), ahead of its July 7, 2020 chapter 11 filing.
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Two years after Germany’s Fresenius Medical Care walked away from a 2017 $4.3 billion deal to acquire Akorn Pharmaceuticals, the company has filed for protection under U.S. bankruptcy laws as it attempts to restructure for a potential sale. -
Akorn to Use Voluntary Chapter 11 Process to Position Business for Long-Term Success
5/21/2020
Continues Operations as Usual, Delivering Safe and Effective Products to Customers and Patients
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Sophiris Bio To Shut Down Operations
5/18/2020
Sophiris Bio Inc., announced that its board of directors has formally approved an immediate shutdown of the operations of the Company.
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Rising Pharma Holdings Inc.’s Statement Regarding Recent Articles
3/23/2020
Several recent articles inaccurately state an affiliation between Rising Pharma Holdings, Inc., and Rising Pharmaceuticals, Inc., and its parent company, ACETO Corporation.
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Deerfield Management placed Melinta’s assets up for auction, but no other companies made competing bids, leaving Deerfield in control of the company’s assets.
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Mallinckrodt Files Chapter 11 for its Generics Business as it Reaches $1.6 Billion Opioid Settlement
2/25/2020
In addition to the settlement and bankruptcy, Mallinckrodt entered into a debt refinancing agreement, including an $800 million loan that will be used to repay some outstanding debt and acquire some outstanding stocks. -
Purdue Taps Tom Vilsack, Former Cabinet Secretary and Governor, to Monitor Compliance With Voluntary Injunction
2/21/2020
Feb. 21, 2020 15:13 UTC STAMFORD, Conn.--( BUSINESS WIRE )-- Purdue Pharma L.P. (“Purdue”) today announced the appointment of former United States Agriculture Secretary and Iowa Governor Tom Vilsack as Monitor under the voluntary self-injunction approved on November 6, 2019, in its chapter 11 bankruptcy case. In its initial bankruptcy filings, Purdue voluntarily proposed to formalize under court order its commitment to continue to refrain from engaging in certain promotional
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Aradigm Announces Entering into an Asset Purchase Agreement with Grifols, S.A.
2/21/2020
Feb. 21, 2020 13:00 UTC NEWARK, Calif.--( BUSINESS WIRE )-- Aradigm Corporation (OTC PINK: ARDM) (“Aradigm” or the “Company”) today announced that the Company has entered into an Asset Purchase Agreement pursuant to which Grifols, S.A. (the “Buyer”) will acquire the Company’s assets and intellectual property that pertain to Lipoquin, Free Ciprofloxacin, Apulmiq and any derivatives thereof. The sale is subject to the approval of the Bankruptcy Court, and is subject to the results o
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Melinta Therapeutics Announces Court Approval of Chapter 11 Bidding Procedures
2/13/2020
Company Previously Announced Agreement of its Secured Lenders to Acquire Company as Going Concern, Subject to Higher and Better Offers
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Akorn Announces New Extension of Standstill with Lenders and Agrees to Pursue a Sale of its Business
2/12/2020
Akorn, Inc., a leading specialty pharmaceutical company, announced it has reached an agreement with certain of its lenders to extend the standstill period.