Mallinckrodt signs restructure agreement with creditors, plans to file for bankruptcy

Mallinck­rodt plans to file for bank­rupt­cy in the com­ing days for the sec­ond time in three years in a deal that al­lows it to pay $1 bil­lion less to an opi­oid trust than it orig­i­nal­ly agreed to pay.

The drug­mak­er said Wednes­day it struck a deal with the ma­jor­i­ty of its cred­i­tors, in­clud­ing the opi­oid trust. It now plans to make a fi­nal pay­ment of $250 mil­lion to the trust that it’s been pay­ing in­to as part of a $1.7 bil­lion set­tle­ment that re­sult­ed from the com­pa­ny’s role in the US opi­oid epi­dem­ic.

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