the Company’s equity securities will likely be entitled to little
or no recovery on their investment following the Chapter 11
Filings, and recoveries to other stakeholders cannot be determined
at this time. The Company cautions that trading in the Company’s
securities given the pendency of the Chapter 11 Filings is highly
speculative and poses substantial risks. Trading prices for the
Company’s securities may bear little or no relationship to the
actual value realized, if any, by holders of the Company’s
securities in the Chapter 11 Filings. Accordingly, the Company
urges extreme caution with respect to existing and future
investments in its securities.
Cautionary Note Regarding
Forward-Looking Statements
Certain information in this Current Report on Form 8-K may be considered “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 and any applicable Canadian securities
legislation, including, but not limited to, statements with respect
to Monthly Operating Reports and other documents filed with the
Bankruptcy Court, the Chapter 11 proceedings, and any other
statements that refer to the Company’s expected, estimated or
anticipated future results or that do not relate solely to
historical facts. Statements including words or phrases such as
“believe,” “expect,” “anticipate,” “intend,” “estimate,” “plan,”
“will,” “may,” “look forward,” “intend,” “guidance,” “future,”
“potential” or similar expressions are forward-looking statements.
All forward-looking statements in this communication reflect the
Company’s current views as of the date of this communication about
its plans, intentions, expectations, strategies and prospects,
which are based on the information currently available to it and on
assumptions it has made. Actual results may differ materially and
adversely from current expectations based on a number of factors,
including, among other things, the following: the outcome of the
Company’s contingency planning and restructuring activities; the
timing, impact or results of any pending or future litigation,
investigations, proceedings or claims, including opioid, tax and
antitrust related matters; actual or contingent liabilities;
settlement discussions or negotiations; the Company’s liquidity,
financial performance, cash position and operations; the Company’s
strategy; risks and uncertainties associated with Chapter 11
proceedings; the negative impacts on the Company’s businesses as a
result of filing for and operating under Chapter 11 protection; the
time, terms and ability to confirm a sale of the Company’s
businesses under Section 363 of the U.S. Bankruptcy Code;
the adequacy of the capital resources of the Company’s businesses
and the difficulty in forecasting the liquidity requirements of the
operations of the Company’s businesses; the unpredictability of the
Company’s financial results while in Chapter 11 proceedings; the
Company’s ability to discharge claims in Chapter 11 proceedings;
negotiations with the holders of the Company’s indebtedness and its
trade creditors and other significant creditors; risks and
uncertainties with performing under the terms of the restructuring
support agreement and any other arrangement with lenders or
creditors while in Chapter 11 proceedings; the Company’s ability to
conduct business as usual; the Company’s ability to continue to
serve customers, suppliers and other business partners at the high
level of service and performance they have come to expect from the
Company; the Company’s ability to continue to pay employees,
suppliers and vendors; the ability to control costs during Chapter
11 proceedings; adverse litigation; the risk that the Company’s
Chapter 11 cases may be converted to cases under Chapter 7 of the
Bankruptcy Code; the Company’s ability to secure operating capital;
the Company’s ability to take advantage of opportunities to acquire
assets with upside potential; the Company’s ability to execute on
its strategic plan to pursue, evaluate and close an asset sale of
the Company’s businesses pursuant to Section 363 of the U.S.
Bankruptcy Code; the impact of competition, including the loss of
exclusivity and generic competition; our ability to satisfy
judgments or settlements or pursue appeals including bonding
requirements; our ability to adjust to changing market conditions;
our ability to attract and retain key personnel; our inability to
maintain compliance with financial covenants and operating
obligations which would expose us to potential events of default
under our outstanding indebtedness; our ability to incur additional
debt or equity financing for working capital, capital expenditures,
business development, debt service requirements, acquisitions or
general corporate or other purposes; our ability to refinance our
indebtedness; a significant reduction in our short-term or
long-term revenues which could cause us to be unable to fund our
operations and liquidity needs or repay indebtedness; supply chain
interruptions or difficulties; changes in competitive or market
conditions; changes in legislation or regulatory developments; our
ability to obtain and maintain adequate protection for our
intellectual property rights; the timing and uncertainty of the
results of both the research and development and regulatory
processes, including regulatory decisions, product recalls,
withdrawals and other unusual items; domestic and foreign health
care and cost containment reforms, including government pricing,
tax and reimbursement policies; technological advances and patents
obtained by competitors; the performance, including the approval,
introduction, and consumer and physician acceptance of new products
and the continuing acceptance of currently marketed products; our
ability to integrate any newly acquired products into our portfolio
and achieve any financial or commercial expectations; the impact
that known and unknown side effects may have on market perception
and consumer preference for our products; the effectiveness of
advertising and other promotional campaigns; the timely