Unilife Corporation today announced that it has commenced a formal proceeding to restructure its balance sheet or to sell its assets as a going concern in order to better position the business for the future. To facilitate this restructuring or sale, the company filed voluntary petitions under chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware
Unilife’s foreign affiliates in Australia are not included in the filing but are expected to be included in the restructuring or sale. Unilife’s operations will remain ongoing during the chapter 11 process.
Unilife is a U.S.-based developer and commercial supplier of injectable drug delivery systems. The company has a portfolio of differen…
Read the full article at: https://www.pharmpro.com/news/2017/04/unilife-files-chapter-11-protection