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Mallinckrodt - 2 Hydrocodine - 1 George Frey - 1 Siggi Olafsson - 1 Pratik Jain - 1 Mariam Sunny - 1 Khushi - 1 Dietrich Knauth - 1
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Bengaluru Provo , Utah U.S Ireland New York
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Thomson - 2 REUTERS - 1 Pharmaceutical - 1 Mallinckrodt Plc - 1 Wall Street - 1

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3 mentions found


☆ Mallinckrodt second bankruptcy would cut $1 billion from opioid settlement
  + stars: | 2023-08-23 | by ( ) www.reuters.com   time to read: +2 min
The agreement announced Wednesday would reduce Mallinckrodt's debt by about $1.9 billion and cancel existing equity shares. 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. Mallinckrodt failed to make a $200 million payment to the opioid trust due in June, prompting the company to launch a negotiation with its stakeholders. Mallinckrodt said that its current level of creditor support should allow the company to complete its second bankruptcy by the end of 2023. Drug manufacturers, drug distributors and pharmacy chains have agreed to pay more than $50 billion in settlements to resolve lawsuits related to the U.S. opioid crisis.
Persons: Hydrocodine, Mallinckrodt, George Frey, Siggi Olafsson, Pratik Jain, Mariam Sunny, Khushi, Dietrich Knauth, Maju Samuel, Shinjini Ganguli, Alexia Garamfalvi Organizations: REUTERS, Thomson Locations: Provo , Utah, U.S, Ireland, Bengaluru, New York
☆ Drugmaker Mallinckrodt may file for bankruptcy again, Wall Street Journal reports
  + stars: | 2023-06-03 | by ( ) www.reuters.com   time to read: +1 min
June 2 (Reuters) - Pharmaceutical company Mallinckrodt Plc (MNK.A) is considering options including filing for bankruptcy again as a $200 million opioid settlement payment is due within weeks, the Wall Street Journal reported on Friday citing people familiar with the matter. The drugmaker is required to make the payment to an opioid-victims compensation trust by mid-June as part of its chapter 11 exit plan, the newspaper said. Mallinckrodt did not immediately respond to a Reuters request for comment outside office hours. The company filed for bankruptcy protection nearly three years ago. It reached a $1.7 billion nationwide settlement as part of its bankruptcy reorganization plan and emerged from Chapter 11 last year.
Persons: Mallinckrodt, Anirudh, Edwina Gibbs Organizations: Pharmaceutical, Mallinckrodt Plc, Wall Street, Thomson Locations: Bengaluru
☆ Factbox: Pharmacies, drug companies settle lawsuits over U.S. opioid crisis
  + stars: | 2022-11-22 | by ( Brendan Pierson | Thomson Reuters | Brendan Pierson Reports On Product Liability Litigation | ) www.reuters.com   time to read: +5 min
The following are major companies that were accused of contributing to the crisis, and settlements or judgments involving those companies. Teva Pharmaceutical Industries Ltd (TEVA.TA)-In November, finalized claims nationwide for $4.25 billion, some of which is to be paid as a supply of the overdose-reversing drug naloxone. AbbVie Inc (ABBV.N)-In November, finalized a $2.37 billion nationwide settlement resolving claims against Allergan, a company it acquired in 2020. Endo International Plc (ENDPQ.PK)-Reached a $450 million settlement with more than 30 states as part of a bankruptcy filing in August. Mallinckrodt Plc (MNK.A)-Reached a $1.7 billion nationwide settlement as part of its bankruptcy reorganization plan, approved in February.
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