Opioid Settlement Is on the Cusp of Collapse Before Victims Get a Penny
- Mallinckrodt has fallen into financial distress again
- Some lenders are urging the company to skip settlement payment
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A major US opioid settlement is on the verge of unraveling.
Mallinckrodt Plc, the drugmaker that first began producing morphine and codeine in 1898, owes states, hospitals, tribes, individuals and others hurt by the opioid crisis $200 million by the end of today. The payment is part of a $1.7 billion settlement that the company started paying last summer to exit a bankruptcy that was triggered by the wave of lawsuits it faced.