Mallinckrodt Pitches at Least $1.6 Billion Opioid Settlement, Generics Unit Bankruptcy

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Drugmaker Mallinckrodt PLC is finalizing a settlement proposal worth at least $1.6 billion that would place its U.S. generic-drug business into bankruptcy to address coming debt maturities and liabilities stemming from the opioid crisis, according to people familiar with the matter.

The Ireland-based drugmaker is close to a proposed deal that includes a chapter 11 filing covering its U.S. generics business and a resolution of claims from hundreds of state and local governments stemming from the cost of combating opioid addiction,…



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