Mallinckrodt agreed in principle Sept. 6 to a $30 million deal to settle an opioid lawsuit filed against them by two Ohio counties, according to TheStreet.
Under the settlement, the U.K.-based pharmaceutical company agreed to pay $24 million cash and donate up to $6 million of generic products, including drugs for addiction treatment.
In exchange, Mallinckrodt will be dismissed from the lawsuit filed by Cuyahoga and Summit counties in Ohio, which were chosen to serve as bellwethers in multidistrict litigation over the opioid epidemic.
The company will now focus on reaching a "global resolution" for its remaining opioid lawsuits, Mark Cassey, Mallinckrodt's general counsel, told TheStreet.