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Mallinckrodt, ensnared in opioid crisis, seeks Chapter 11

state New Jersey recommendations crisis
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A New Jersey drugmaker ensnared in the fallout from America's opioid crisis is seeking bankruptcy protection. Mallinckrodt said Monday that it had begun Chapter 11 proceedings to restructure debt and resolve “several billion dollars of otherwise unmanageable potential legal liabilities.”The drugmaker, one of the highest-volume opioid producers in the U.S.

at the height of the nation’s prescription drug crisis, announced in February a tentative $1.6 billion settlement to avert hundreds of lawsuits.

It said Monday that it plans to amend the settlement as it restructures. Under the proposed settlement, opioid claims would be channeled to trusts that receive $1.6 billion in structured payments.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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