Mallinckrodt says it has settled with the FTC over allegedly using its monopoly to hike drug prices

4


Mallinckrodt PLC












MNK, -3.81%










said Wednesday afternoon that it had settled with the Federal Trade Commission over allegations that it used its monopoly to hike drug prices. The settlement is still subject to approval by the FTC, the company said. Earlier Wednesday, shares fell after the Washington Post reported that the FTC was about to bring charges. Shares were down as much as 8% before a trading halt. Company shares have dropped 29.4% over the last three months, compared with a 6.1% rise in the S&P 500












SPX, +0.12%










Source: marketwatch.com