Mallinckrodt looks like it could join Purdue Pharma in reaching a settlement in its bankruptcy proceedings related to opioid litigation, after years of legal wrangling.
The Ireland-headquartered pharma company filed for bankruptcy last year, after proposing a $1.6 billion payout to settle lawsuits claiming that its marketing of opioid painkillers helped to fuel an epidemic in addiction that has claimed hundreds of thousands of lives in the US alone.
Now, it has reached an agreement with creditors that would increase that settlement payment to $1.7 billion, which will be paid into a trust that will be used to support people whose lives have been affected by opioid use, according to documents submitted to the Securities & Exchange Commiss…
Read the full article at: https://pharmaphorum.com/news/mallinckrodt-moves-closer-to-resolving-its-opioid-liability-hangover/
