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Drugmaker Mallinckrodt on Monday filed for its second bankruptcy in three years in the United States, with a restructuring plan that would cut $1 billion from what it owes to victims of the opioid ...
The drugmaker emerged from bankruptcy last year after winning court approval for a reorganization plan that included a $1.7 billion settlement of the litigation. The trust which was owed the $200 ...
The new deal would leave opioid creditors with $1 billion less than the $1.7 billion settlement that Mallinckrodt agreed to pay as part of its 2022 exit from the company's earlier bankruptcy ...
On July 11, 2023, Mallinckrodt was sued for allegedly misleading investors for misrepresenting its financial strength before missing payments to opioid victims and bond holders. [49] On July 14, Mallinckrodt's $200 million opioid payment was once again extended to July 21. [50] On July 17, it was extended yet again to August 15. [51]
Shares of the company rose 53.3% to 69 cents in afternoon trade. As part of a prearranged deal, Mallinckrodt will propose to write off about $1 billion from what it still owes to addiction victims ...
Mallinckrodt, which won court approval for its bankruptcy plan last month, said it is moving ahead with ample liquidity to execute its strategic priorities. Pursuant to the bankruptcy plan ...
Mallinckrodt said on Monday it had agreed to pay $1.6 billion over several years to settle opioid-related litigation. ... as part of its settlement once the company emerged from chapter 11 bankruptcy.
Mallinckrodt said it, along with generic-focused subsidiaries, has reached an agreement in principle on a settlement agreement that would resolve all opioid-related claims against the entities.