Mallinckrodt Sells Intrathecal Therapy Business for $203 Million
Mallinckrodt, a pharmaceutical company with a worldwide presence, develops and distributes products and therapies that treat rare conditions and diseases. The company has a particular focus on neurological disorders, rheumatology and nephrology conditions and analgesics.
In early 2017, the company announced the sale of their Inthrathecal Therapy division to Piramal Critical Care, a UK subsidiary of Piramal Enterprises. Piramal acquired the division for $203 million and the sale includes all therapies still under development.
Inthratehecal Therapy division at Mallinckrodt develops and markets products to treat spactisicty caused by brain injuries. Most of the therapies are delivered through the spine using pre-filled syringes. The sale marks a shift in Mallinckrodt’s strategies.
In announcing the sale, Mark Trudeau, President and Chief Executive Officer of Mallinckrodt, said
Mallinckrodt is transforming its portfolio to become a top-performing specialty pharmaceutical company, systematically divesting non-core businesses to build upon our growth platforms in autoimmune and rare diseases and hospital therapies.