Another major health care company files for Chapter 11 bankruptcy
The essential health care company files for bankruptcy to hand ownership to its lenders.
The biotechnology sector faced a spike in bankruptcy filings in the U.S. in 2023 and 2024, after over a dozen years of fewer than 10 filings annually.
Bankuptcy filings topped out with 14 filings in 2023, the most since 2010, when 14 companies also filed. In 2024, 13 biotech companies filed for bankruptcy, with six companies reorganizing and seven liquidating and going out of business.
