Mallinckrodt Plans Spin-Off Of Specialty Generics Business

 
• By Grace Montgomery
  
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Disposing of its Specialty Generics business and becoming “brands-focused” has long been on Mallinckrodt’s agenda. The firm has now revealed plans to spin-off its generics division, while its remaining company will focus on innovative products.

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Mallinckrodt plans to spin-off generics unit • Source: Shutterstock

Mallinckrodt is set to operate as two independent publicly-traded companies: a generics and active pharmaceutical ingredients (APIs) developer, and an innovative specialty drug marketer. The planned separation is expected to be completed “in the second half of 2019 or sooner” and is due to be executed through a pro-rata distribution of common stock to Mallinckrodt’s shareholders.

The spun-off company – which will assume the Mallinckrodt name and have around 1,600 employees – will include “a leading...

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