Opioid manufacturer reaches proposed $1.6 billion settlement

Opioid manufacturer reaches proposed $1.6 billion settlement


Updated 0503 GMT (1303 HKT) February 27, 2020

(CNN) A large opioid manufacturer has reached a settlement agreement in principle worth $1.6 billion with attorneys general for 47 states and US territories, according to a company press release.

Mallinckrodt announced Tuesday that the proposed deal will resolve all opioid-related claims against the company and its subsidiaries if it moves forward. Plaintiffs would receive payments over an eight-year period to cover the costs of opioid-addiction treatments and other needs. Read more...