Cautionary Information Regarding
Trading in the Company’s Securities.
The Company continues to face certain risks and uncertainties that
have been affecting its business and operations, and these risks
and uncertainties may affect the Company’s ability to enter into a
sale transaction and could impact the outcome of the Company’s
voluntary petitions for relief under chapter 11 of the Bankruptcy
Code in the United States Bankruptcy Court for the Southern
District of New York (collectively, the “Chapter 11 Filings”). Holders of 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 the Non-Debtor Report or
any similar reports or other documents that have been or in the
future are 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 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
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,