Mallinckrodt Finalizes Bankruptcy Filing And Opioid, Acthar Settlements
Executive Summary
The company will pay $1.6bn to settle opioid litigation and $260m to settle a Medicaid rebate dispute related to Acthar Gel under a restructuring support agreement.
You may also be interested in...
Finance Watch: Biopharma Firms Get Ahead Of Q3 Updates With Restructuring Reveals
Restructuring Edition: Biogen and Sana add to their layoff totals. Exscientia announced R&D program cuts while Syros, PTC, AM-Pharma, Societal CDMO, Nighthawk and Kinnate revealed layoffs to conserve cash. Also, Impel is exploring strategic options and Applied Molecular Transport will disappear in a merger with Cyclo.
Terlivaz Approved By FDA As Mallinckrodt Seeks To Advance New Business Strategy
Terlivaz is the first product approved to improve kidney function in adults with hepatorenal syndrome (HRS). The approval is a milestone in a long regulatory road for the drug.
Finance Watch: Certain Offerings Find Their Way To Investors In Tough Market
Public Company Edition: The stock market has been unkind to biotech firms but investors rewarded some drug developers for clinical trial successes, including Scholar Rock and Day One, which raised $205m and $172.5m, respectively. However, some SPAC deals and an IPO never got off the ground.