Mallinck­rodt, once the na­tion’s largest oxy­codone pro­duc­er, an­nounces ten­ta­tive $1.6B set­tle­ment

Three years af­ter it first paid out fines for its role in the US opi­oid abuse epi­dem­ic, Mallinck­rodt has an­nounced an agree­ment-in-prin­ci­ple that will see the com­pa­ny pay out $1.6 bil­lion and place its gener­ics unit in bank­rupt­cy.

The ten­ta­tive deal would set­tle hun­dreds of law­suits from state and lo­cal gov­ern­ments over Mallinck­rodt’s role in the epi­dem­ic, while al­so help­ing ad­dress the com­pa­ny’s in­creas­ing­ly moun­tain­ous debt. Al­though Pur­due Phar­ma has drawn the bulk of both pub­lic and le­gal ac­ri­mo­ny for opi­oid sales, doc­u­ments made pub­lic ear­li­er this year showed that Mallinck­rodt sub­sidiary SpecGx, along with the gener­ic sub­sidiaries of Te­va and En­do Phar­ma­ceu­ti­cals, ac­count­ed for the vast ma­jor­i­ty of the 76 bil­lion opi­oid pills dis­trib­uted from 2006 to 2012. Mallinck­rodt was at the top of that list.

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