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Top related persons:
Mallinckrodt - 2 Johnson - 1 Mark Trudeau - 1 Sackler - 1 It’s - 1 haven’t - 1 Jeffrey Goldfarb - 1 Sharon Lam - 1
Top related locs:
American Delaware Acthar
Top related orgs:
Mallinckrodt Pharmaceuticals - 2 Johnson - 1 CVS Health - 1 Purdue Pharma - 1 U.S - 1 Supreme - 1 Department of Justice - 1 Specialty Brands - 1

Search resuls for: "Mallinckrodt Pharmaceuticals"


3 mentions found


☆ Opioid Maker’s Bankruptcy Plan Would Cut Payments to Victims by $1 Billion
  + stars: | 2023-08-23 | by ( Rebecca Robbins | More About Rebecca Robbins | ) www.nytimes.com   time to read: +1 min
A major opioid manufacturer that had promised to pay $1.7 billion as compensation over its role in the opioid crisis disclosed on Wednesday that it had reached an agreement with its creditors to reduce the settlement payments by $1 billion. The funds had been earmarked for addiction victims to rebuild their lives and for governments to pay for priorities like drugs to reverse opioid overdoses. In a regulatory filing on Wednesday, Mallinckrodt disclosed that it had reached a plan to file for bankruptcy for the second time in three years. The plan to cancel a majority of the outstanding payments was devised with backing from hedge funds that would control the company under a second bankruptcy. The funds had lent money to Mallinckrodt and were in a position to force the company to prioritize paying back its lenders over compensating victims.
Persons: Mallinckrodt Organizations: Mallinckrodt Pharmaceuticals
☆ Opioids expose unhealthy bankruptcy addictions
  + stars: | 2023-08-11 | by ( Robert Cyran | ) www.reuters.com   time to read: +6 min
Between 2006 and 2014, it manufactured roughly 30 billion opioid pills. Its attempt to climb out of bankruptcy has been stalled multiple times, most recently on Thursday by the U.S. Supreme Court. Mallinckrodt agreed to a $260 million settlement last year and quarterly revenue from Acthar has tumbled 70% since 2019. If not, it will be up to elected officials to end such unhealthy bankruptcy addictions. As part of that settlement, Mallinckrodt agreed to pay $1.7 billion over eight years to settle opioid claims.
Persons: Johnson, Mark Trudeau, Sackler, Mallinckrodt, It’s, haven’t, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Mallinckrodt Pharmaceuticals, Johnson, CVS Health, Purdue Pharma, U.S, Supreme, Department of Justice, Specialty Brands, Point, Purdue, Purdue Pharma’s, DOJ, Biden Administration, Thomson Locations: American, Delaware, Acthar
☆ Food Company Post Holdings Promotes Treasurer Matt Mainer to CFO Role
  + stars: | 2022-11-16 | by ( Kristin Broughton | ) www.wsj.com   time to read: +2 min
St. Louis-based Post named its treasurer, Matt Mainer, as chief financial officer and promoted Jeff Zadoks, its current CFO, to operating chief, effective Dec. 1. Mr. Mainer has served as treasurer since joining the company in 2015, and will continue to hold the title after taking over as CFO. Post declined to make Mr. Mainer available for an interview. Photo: Post Holdings Mr. Zadoks has served as Post’s CFO since 2014. In his new role, Mr. Zadoks will work with the company’s business-line presidents on areas such as boosting revenue and cutting costs, said Post.
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