Mallinckrodt Nets Government Support for $1.6 Billion Opioid Deal

Mallinckrodt Nets Government Support for $1.6 Billion Opioid Deal 

Updated Feb. 25, 2020 6:56 pm ET

Drugmaker Mallinckrodt PLC said on Tuesday that it reached a settlement worth more than $1.6 billion with 47 states and U.S. territories and lawyers representing thousands of local governments to settle liabilities stemming from the opioid addiction crisis.

Under the settlement proposal, state and local governments would receive $1.6 billion of payments, phased out over eight years, and warrants for a minority stake in the company. Mallinckrodt’s generics subsidiaries would file for chapter 11 to implement the proposed deal,... Read more...