Mallinckrodt Plc on Tuesday said it had agreed to a US$1.6 billion settlement proposal in which its generic drug business would file bankruptcy in order to resolve thousands of lawsuits alleging it helped fuel the U.S. opioid epidemic.
California Attorney General Xavier Becerra in a statement called Mallinckrodt's proposed settlement"a step in the right direction." Seven states have not signed onto Mallinckrodt's proposal, including New York, which is set to take several opioid companies to trial on March 20.
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