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