Bankruptcy

Purdue Pharma is preparing to file for bankruptcy as part of a plan that may include an $11.5 billion settlement to resolve all lawsuits against it, Bloomberg previously reported.

Will Mallinckrodt have to take the same path considering between 2006 and 2012 MNk out sold Purdue 3:1?

 

Only difference being that Mallinckrodt does not have any money that it can put aside..hell, they may not even be able to pay their debt given if the payor pressure continues on Acthar

 

Everything is fine get back to selling.

 

What goes around comes around, eh? You guys are so f____ed.

 

Is your CEO Mark Trudeau at least a fraction human? He is quoted today in regards to bankruptcy, “if we didn’t have all this opiod hysteria going on....”

I have to say, this says it all about who he is. In all my years in pharma, never have I heard a CEO speaking this way about a major health crisis. Even if he felt that way, there is just a certain level of ethical behavior that should come out of their mouths. To families that have lost loved ones, please don’t give up. What goes around does come back around.

 

Sad ending to the proud MNK name that was the gold standard in Radiology. It was an honor to be Mallinckrodt Radiology scholarship nominee. Today looters have stripped billions from shareholders, employees, patients, hospitals, communities, private insurance and CMS. Hopefully the proud MNK name can remain after providing financial remedy to those families they have forever destroyed. New leadership and BOD vision can make MNK rise from the ashes after paying for past sins with brands that lower cost for the healthcare community. Hopefully CMS and creditors claw back from the senior leadership team looters excessive bonus and option payments as part of the final settlement retribution.

 

That is a capital idea...clawback the millions that MT and the BOD made since 2013...it would be amazing how much this would total. More importantly, there should be an all out SEC investigation into the fraud that went into every M&A deal that they transacted - every one of them was a loser financially. Why has no significant write downs been taken on all the impaired assets purchased predicated on phony deal models and forecasts and staged due diligence? Recall Acthar was going to be a 2-3B product in 5 years post acquisition...Ofirmev was going to reach nearly 800-900 M in the same time frame...TKS was going to be a 500 M product and on and on...all lies. Management knew the numbers were unattainable but never took the hit nor shared material info with the public...all it will take is a few good people to finally speak up...you know who you are in finance! Now that their retirement plans have been gutted, they should have nothing to lose...Finance dept propped up the entire enterprise with fake numbers and creating plausible deniability for the accounting house on record (DT)...shame on all of them....12.B in M&A deals and now valuation of nearly 0...what a spectacular failure and this C-suite should be in the Pharma Hall of Shame forever.

 

i hope someone talks and puts those assholes behind bars where they belong. They lied to all the investors including us. And now they have the nerve to say it doesn’t matter if the stock is zero???? How about it does to everyone that bought that piece of shti. Fukin scumbags. Their story changed likenthe wind at every turn. Now they say the value of the stock doesn’t matter. Biggest horse shti I have ever heard. It matters for a lot of reasons

 

wrote Raymond James analyst Elliot Wilbur on Thursday. “That said, unless there is a large scale settlement emerging involving MNK we have somehow missed, we just don’t think the company is anywhere close to the brink of bankruptcy.”

I think wilbur has missed ALOT of recent investment news. Ie., his head buried in sand....J&J, Teva, Perdue,.....

 

To be a C-level executive, you have to be willing to sell your family for organ donations and spare parts. Hearing MT say this only proves the point. It also may prove he’s ignoring one of Biggie’s rules, as he may be getting high off his own supply.

I look forward to today’s announcement. Will MT be in a daze as he talks? Will HO and SR exhibit roid rage if someone dares to ask questions of them? Will people start walking out of the meeting as they talk? Only time will tell.

 

Very well said.

 

Being the 1 of the 2 remaining idiots who still covers this stock, there is no need to pay any attention to what he says or writes

 

PURDUE officially files for bankruptcy: MALLINCKRODT next?

 

Of course the best option for MNK is bankruptcy. Part of the Chapter 11 will be layoffs. People seriously doubt if there will be anything left by the time it is all said and done.

Leadership completely F**K us all. MT, HO and the rest of them needs to go. The board is incompetent. If a football coach fails to make the payoffs, the owner of the team (ie Board) would remove the executives and install a new leader. Any changes at this time is a little too late as they should have been removed 3 years ago. The Board will remove the executives at some point but it is a little too late, the damage is done.

 

your grammar is worse than our leadership.

 

Hello MNK HR, nice to see that you joined the party. The person is correct, our "leaders" failed us. Grammar aside.

 

MNK credit status is literally “junk”. We have eaten into it all. I hope this place gets all it deserves. I left a year ago and thought most of u were decent people but clueless to the realities of the business. I would laugh at HO in these town halls as he spewed BS and outright lies that have now raised their ugly head. How you believe MT and HO now is beyond me. I wish you all luck

-Adam

 

Last week HO and MT both said numerous times that they have been accused of not knowing what they are doing but that is only because they can’t always tell us what they are doing. They said this after they both rejoiced in what they consider a big win from last week. I am so proud of our leadership for their first win since they drove the stock from $132 to $2.50 and they lost 10 billion dollars in a mere 4 years. To all the nay sayers how can you argue that these guys are stupid. They have told us they are not stupid and last week they delayed bankruptcy from oct to May. I knew they were so smart. Even the board agrees. So smart their heads are exploding brains everywhere.
Stock soaring to $2.45 today.

Hope to see everyone at the MNK BBQ Bankruptcy party. BYOF

 

Yep. They basically admitted to saying to people that were crushed by the opioids they produced “if you chase use for a lot we will claim bankruptcy”. True geniuses. That is what all scum bags do. The head lawyer they had up there stunk of bull shti.
I love how MT said “having the head lawyer in the room was a real game changer”. Lmao. Ok. You hired an NYC law firm. He had shti to do with the negotiation. I hope to Christ these guys all get what they have coming financially and legally

 

This highly indebted company faces massive liabilities from lawsuits.
Current settlements and bond prices show creditors do not expect to be paid in full.
Trouble in existing business lines may make things worse.
This company will probably default on debt in as little as seven months.
Mallinckrodt (MNK) is a deeply-indebted drug manufacturer with what appear to be insurmountable problems.

Good Night- turn off the lights on your way out of the building- adios!