Mallinckrodt plc reported the company has finalized a previously disclosed agreement with the U.S. Department of Justice to resolve a civil False Claims Act investigation of Questcor’s legacy sales and marketing activities first filed in 2012.
- Company to pay expected settlement of $15.4 million
- Settlement agreement contains no admission of wrongdoing
STAINES-UPON-THAMES, United Kingdom, Sept. 3, 2019 /PRNewswire/ -- Mallinckrodt plc (NYSE: MNK), a global biopharmaceutical company, today reported the company has finalized a previously disclosed agreement with the U.S. Department of Justice to resolve a civil False Claims Act investigation of Questcor‘s legacy sales and marketing activities first filed in 2012. Questcor was acquired by Mallinckrodt in August of 2014. Under the settlement, Mallinckrodt has agreed to pay the expected $15.4 million relating to these legacy Questcor activities. Importantly, the settlement agreement contains no admission of wrongdoing.
“We are pleased to have conclusively resolved and put this Questcor matter behind us,” said Mark Casey, General Counsel of Mallinckrodt. “Where we can resolve legacy legal matters in a reasonable and manageable way, we will continue to do so.”
ABOUT MALLINCKRODT
Mallinckrodt is a global business consisting of multiple wholly owned subsidiaries that develop, manufacture, market and distribute specialty pharmaceutical products and therapies. The company’s Specialty Brands reportable segment’s areas of focus include autoimmune and rare diseases in specialty areas like neurology, rheumatology, nephrology, pulmonology and ophthalmology; immunotherapy and neonatal respiratory critical care therapies; analgesics and gastrointestinal products. Its Specialty Generics reportable segment includes specialty generic drugs and active pharmaceutical ingredients. To learn more about Mallinckrodt, visit www.mallinckrodt.com.
Mallinckrodt uses its website as a channel of distribution of important company information, such as press releases, investor presentations and other financial information. It also uses its website to expedite public access to time-critical information regarding the company in advance of or in lieu of distributing a press release or a filing with the U.S. Securities and Exchange Commission (SEC) disclosing the same information. Therefore, investors should look to the Investor Relations page of the website for important and time-critical information. Visitors to the website can also register to receive automatic e-mail and other notifications alerting them when new information is made available on the Investor Relations page of the website.
CONTACTS
Media
Daniel Yunger
Kekst CNC
212-521-4879
mallinckrodt@kekstcnc.com
Investor Relations
Daniel J. Speciale, CPA
Vice President, Investor Relations and IRO
314-654-3638
daniel.speciale@mnk.com
Mallinckrodt, the “M” brand mark and the Mallinckrodt Pharmaceuticals logo are trademarks of a Mallinckrodt company. Other brands are trademarks of a Mallinckrodt company or their respective owners. © 2019 Mallinckrodt. 9/19
View original content to download multimedia:http://www.prnewswire.com/news-releases/mallinckrodt-announces-completion-of-previously-disclosed-settlement-agreement-with-us-department-of-justice-on-legacy-questcor-sales-and-marketing-activities-300911069.html
SOURCE Mallinckrodt plc
Company Codes: NYSE:MNK
