Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter @jswartz.
Prescription opioid maker Mallinckrodt MNKTQ, -13.79% on Tuesday gained federal court approval to erase more than $1 billion of payments intended for people with drug addiction while handing control of the pharmaceutical company to its lenders. The U.S.
Bankruptcy Court in Wilmington, Del., okayed a plan that offers the company a path to exit from bankruptcy just months after it filed for chapter 11 protection. Mallinckrodt executives have said the company reached a restructuring deal after extensive outreach from its creditors.
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