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(Reuters) -Drugmaker Mallinckrodt on Tuesday won court approval for a bankruptcy plan that cuts $1 billion from what it must pay opioid crisis victims, cancels existing equity shares, and trims nearly $2 billion in other debt. U.S. Bankruptcy Judge John Dorsey approved the restructuring plan at a court hearing in Wilmington, Delaware. "With substantially less debt and additional financial flexibility, we will be better positioned for the future as we continue delivering therapies that improve outcomes for patients with severe and critical conditions," Mallinckrodt CEO Siggi Olafsson said in a statement.
/PRNewswire/ Mallinckrodt plc (OTCMKTS: MNKTQ) ("Mallinckrodt" or the "Company"), a global specialty pharmaceutical company, today announced that it has.