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Latest From Mallinckrodt plc
Members of House Energy & Commerce Committee reiterate concerns that 2001 label revision may have been used to help promote higher dosage and longer-term prescriptions of OxyContin. J&J boosts opioid litigation settlement offer to $5bn.
After threatening it for some time, Mallinckrodt has initiated Chapter 11 bankruptcy proceedings, succumbing to thousands of claims over its part in the US opioid epidemic.
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.
The role of biopharma start-ups in bringing innovative therapies to the market has grown enormously. These waves of new specialist companies often have the most innovative approaches to targeting a disease, and big pharma has become increasingly reliant on their fresh ideas to power pipelines.
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