BRIEF—Mallinckrodt settles opioid lawsuits

Mallinckrodt has executed a definitive settlement agreement with Cuyahoga and Summit Counties in Ohio, in connection with pending opioid litigation lawsuits.

Mallinckrodt will pay $24 million in cash and provide $6 million in generic products, including addiction treatment products, thereby fully resolving all “Track 1 Cases,” currently scheduled to go to trial in October 2019.

All named Mallinckrodt entities will be dismissed with prejudice from the lawsuit.