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Halsey

Executive Summary

Selling ANDA for oxycodone 5 mg/acetaminophen 325 mg tablets to Mallinckrodt. Halsey received $500,000 on signing the letter of intent and expects to get "several million" dollars when deal is completed. Mallinckrodt also agrees to extend credit to Halsey for certain raw material purchases. The funds from the sale will be used to reduce Halsey's outstanding debt. The generic company announces that its banks have extended Halsey's credit agreement to Dec. 31. Under an agreement announced in April, the banks will waive certain defaults under Halsey's restructed loan agreements
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