New York (CNN Business) Mallinckrodt Pharmaceuticals, facing billions of dollars in legal costs over its role in the nation's opiod crisis, filed for bankruptcy early Monday. The largest generic opioid manufacturer in the United States is losing battles on multiple fronts. A recent court decision could force Mallinckrodt to pay hundreds of millions of dollars in higher rebates to state Medicaid programs for its best-selling drugs. Mallinckrodt MNK But the most expensive problemfaces are lawsuits charging it with helping to feed the nation's opiod crisis. In February, it reached an agreement in principle on a $1.6 billion settlement with attorneys general for 47 states and US territories.

Source: CNN October 12, 2020 12:22 UTC