New England Compounding Center, based in Framingham, filed for bankruptcy Friday, The Boston Globe reported.
The pharmacy said Friday it hopes to set up a fund in the bankruptcy process to pay victims with claims against the company.
"We recognize the need to compensate those affected by the meningitis outbreak fairly and appropriately," said Keith D. Lowey, who was named chief restructuring officer in the bankruptcy, in the company's statement.
Federal authorities have blamed NECC for distributing contaminated steroid injections that have killed 39 and sickened 620 with meningitis, the Boston Herald reported.
Ray Liotta sues skin care company over use of likeness
NBC reportedly holds celebs hostage to Jimmy Fallon's show