Pune, Maharashtra, India, October 12 2020 (Wiredrelease) MarketResearch.Biz :Active Protection Systems Market Overview:
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FILE PHOTO: Bottles of prescription painkillers Oxycodone Hydrochloride, 30mg pills, made by Mallinckrodt sit on a counter at a local pharmacy, in Provo, Utah, U.S., April 25, 2017. REUTERS/George Frey/File PhotoReuters
(Reuters) – Mallinckrodt filed for bankruptcy protection on Monday, saddled with lawsuits alleging it helped fuel the U.S. opioid epidemic.
Adding to its woes, the company in March also lost a court battle to avoid paying higher rebates to state Medicaid programs for its top-selling drug.
Mallinckrodt said on Monday it had agreed to pay $1.6 billion over several years to settle opioid-related litigation. About $450 million would be paid as part of its settlement once the company emerged from chapter 11 bankruptcy.
The company would then pay $200 million in the first and second year after its emergence from the bankruptcy, and $150 million subsequently through the seventh year.
CEO Kenneth Bombace also announced expanded training program offerings that can be contracted to accommodate organizations around the globe through their innovative Mobile Training Teams or MTT’s. “We can offer these services to private individuals and private sector organizations as well as government agencies and military units. Our Instructors bring extensive experience from the Military Special Operations Community as well as Law Enforcement agencies.” These incredibly challenging training programs begin at just $1400 per person. Mr. Bombace also announced an innovative Online Executive Protection Course that can be offered to students trying to enter the Executive Protection field in a unique virtual platform. “For just $299 we are offering students an introduction into the field of Executive Protection. Upon successful completion of the training students receive a Certificate and Transcript from this elite protection firm.”
CEO Kenneth Bombace continues to say that Global Threat Solutions has protected such high profile