March 16, 2020 / 7:32 PM / 16 days ago

Mallinckrodt faces 'existential threat' after losing Medicaid drug rebate case

Drugmaker Mallinckrodt Plc on Monday warned that a judge’s ruling allowing the federal government to force it to pay higher rebates to state Medicaid programs after raising its top-selling drug’s price posed an “existential threat to the company.”

Mallinckrodt said the late Friday ruling by U.S. District Judge Thomas Hogan in Washington, D.C., would force it to pay $650 million to cover retroactive rebates and would cut sales of the drug, H.P. Acthar Gel, by up to $100 million.

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