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Mallinckrodt Finalizes Bankruptcy Filing And Opioid, Acthar Settlements

 
• By Jessica Merrill

The company will pay $1.6bn to settle opioid litigation and $260m to settle a Medicaid rebate dispute related to Acthar Gel under a restructuring support agreement.

Chapter 11
Mallinckrodt has begun bankruptcy proceedings • Source: Shutterstock

Mallinckrodt plc has initiated a Chapter 11 bankruptcy filing in a Delaware court that will allow it to restructure its debt and resolve hefty legal liabilities related to the sale of opioids, as well as a US Medicaid dispute over Acthar Gel rebates. The company announced the filing and a restructuring support agreement on 12 October.

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