Drugmaker Mallinckrodt Reaches $1.6B Opioid Settlement

The generic drugmaker Mallinckrodt has announced a $1.6 billion deal to settle lawsuits it faces over its role in a national opioid crisis.

The company announced the deal Tuesday, saying it has agreement with most states and lawyers representing local governments suing it.

The English company was one of the highest-volume opioid producers in the U.S. and is seeking bankruptcy protection as part of the deal.

The deal comes as more disputes have become public in some other companies' efforts to settle opioid suits.