Mallinckrodt (MNK -41.3%) is up a modest 6% from its intraday low of $1.43 after CEO Mark Trudeau’s presentation at the Wells Fargo Healthcare Conference in Boston.
He downplayed a recent Bloomberg report that it is considering restructuring in the face of its exposure to opioid crisis-related lawsuits, calling the report “unfortunate” since the company routinely hires advisors for a range of issues, although he added that it continues to look at all alternatives to move away from the opioid/generics business since it comprises only 10% of what the company does.
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