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Westlaw News

Mallinckrodt warns of bankruptcy amid opioid, Medicaid rebate litigation

Mallinckrodt Plc on Tuesday said it may soon file for bankruptcy in the face of lawsuits alleging it fueled the opioid epidemic and because of a recent court ruling that will force the drugmaker to pay higher rebates to state Medicaid programs for its top-selling drug.

Mallinckrodt in February said it planned to have its generic drug business file for bankruptcy as part of a tentative $1.6 billion opioid settlement. But Mallinckrodt said the company and most of its units may now file for Chapter 11 protection too.

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