Drugmaker Mallinckrodt  (MNK) – Get Report became the third major opioid producer to file for bankruptcy, weighed down by thousands of U.S. lawsuits from states, cities and counties that have blamed drugmakers and distributors for the epidemic of overdose deaths.

“After many months of deliberation, negotiation and consideration of alternatives, Mallinckrodt’s management and board of directors determined that implementing a Chapter 11 restructuring provides the best opportunity to maximize the value of the enterprise and position the company for the future in light of the current challenges it faces,” said Mark Trudeau, Mallinckrodt’s president and CEO, in a statement.

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