October 31, 2018 / 8:40 PM / in 4 months

Egalet files for bankruptcy to help acquire painkiller products

Drugmaker Egalet Corp sought bankruptcy protection on Wednesday to restructure its debt and debt after agreeing to purchase products from Iroko Pharmaceuticals Inc in order to focus on marketing painkillers that are not prone to abuse.

“Through this transaction, we will expand our commercial portfolio with four additional marketed, non-narcotic pain products while improving our capital structure,” Bob Radie, president and chief executive of Egalet, said in statement.

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