In a statement, Mallinckrodt (MNK +26.8%) says it has reviewed its end-to-end supply chain, including collaborating with suppliers, and does not expect any disruptions to manufacturing or distribution from the COVID-19 breakout.
Shares are trying to claw back after a steep selloff driven by heightened bankruptcy concerns after its lenders refused to rework its existing credit agreement. Shares had lost almost 60% of their value this week before today’s action.
