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Mallinckrodt agrees to pay $35M to settle US opioid probe

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Mallinckrodt agrees to pay $35M to settle US opioid probe

Mallinckrodt PLC reached a $35 million settlement with the U.S. government to end a probe of the company's practices involving the sale of the highly addictive generic painkiller oxycodone.

The company, one of the largest manufacturers of the opioid drug, reached an agreement in principle with the U.S. Drug Enforcement Administration and the U.S. Attorney's Offices for the Eastern District of Michigan and the Northern District of New York to settle the investigation.

The settlement is not an admission of guilt and is subject to an additional review and approval by the U.S. Department of Justice and the DEA.

"The company denies government allegations that it violated applicable laws ... and the settlement contains no admission of liability for civil penalties for relevant conduct," the company said in a statement.