Opioid maker to pay $1.6 billion to settle all lawsuits
FRANKFORT, Ky. (WTVQ) – An opioid maker is settling all the lawsuits against it, including from Kentucky, for $1.6 billion.
At the same time the company, Mallinckrodt, is filing for bankruptcy. The company, like many opioid manufacturers, was sued by dozens of states, accused of contributing, if not feeding the nation’s opioid epidemic.
The payments for plaintiffs will be received over an eight-year period. The money will be used to help take care of addiction costs and other needs.
The National Survey on Drug Use and Health says more than 10,000,000 Americans misused opioids in 2018.
According to the CDC, more than 70,000 people died from drug overdoses in 2017.