Mallinckrodt

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Mallinckrodt Pharmaceuticals, based in Dublin, Ireland with U.S. headquarters in St. Louis, Missouri, produces specialty pharmaceutical products including generic drugs and imaging agents.[1]

Mallinckrodt manufactures and distributes products used in diagnostic procedures and in the treatment of pain and related conditions. This includes the development, manufacture and distribution of specialty pharmaceuticals, active pharmaceutical ingredients, contrast products and radiopharmaceuticals. The company employs 5,500 at 47 locations around the world. Net sales were $2 billion in 2011.[2]

Separation from Covidien[edit]

In 2011, Covidien announced plans to spin off its pharmaceuticals business into a standalone public company.[3] Mallinckrodt Plc was officially separated as of June 28, 2013. Trading of regular shares of the company’s stock on the New York Stock Exchange began on July 1, 2013, under the ticker symbol MNK.[1]

History[edit]

Early history[edit]

In 1867, the Mallinckrodt brothers, Gustav, Otto and Edward, founded G. Mallinckrodt & Co. in St. Louis, Missouri.[4] Mallinckrodt Chemical Works was incorporated 15 years later. By 1898, the company had established itself as a pharmaceuticals supplier and in 1913 became the first to introduce barium sulfate as a contrast media for x-rays. The Mallinckrodt General Clinical Research Center received contributions from Edward C. Mallinckrodt, Jr., who headed the firm in the 1940s.

Recent history[edit]

  • 1981 – Mallinckrodt is listed among Fortune 500 companies [5]
  • 1982 – Avon Products, Inc. acquires Mallinckrodt
  • 1986 – International Minerals and Chemical Corporation (IMCERA Group Inc.) acquires Mallinckrodt from Avon
  • 1995 – Mallinckrodt establishes generic pharmaceuticals business
  • 1996 – Mallinckrodt Inc. acquires maker of urology imaging systems and injectors, Liebel-Flarsheim Co.[6]
  • 2000 – Tyco International acquires Mallinckrodt [7]
  • 2007 – Tyco Healthcare spins off and becomes Covidien, an independent company [8] The healthcare business units were spun off under the name Covidien.[9]
  • 2011 – Covidien closes plant in Chesterfield, UK which makes para-aminophenol, with the loss of 64 jobs. This is a former Mallinckrodt site, now owned by Covidien.[citation needed]
  • 2011 – Covidien announces plans to spin off Mallinckrodt Pharmaceuticals as a standalone public company [10]
  • 2012 – Mallinckrodt announces acquisition of CNS Therapeutics for $100 million [11]
  • 2013 - Mallinckrodt spins off from Covidien and begins trading under ticker symbol MNK [1]
  • 2014 - Acquires Cadence Pharmaceuticals[12] and Questcor Pharmaceuticals;[13] Joins S&P 500[14]

Market[edit]

Mallinckrodt markets its products to major wholesalers and retail drug store chains. Imaging products are marketed primarily to physicians, technologists and hospitals, imaging centers, cardiology clinics and radiopharmacies.[2]

Products[edit]

Mallinkrodt has two main product lines.[15]

  • Specialty Pharmaceuticals products include branded drugs as well as specialty generics and active pharmaceutical ingredients (APIs). Products include biologics, medicinal opioids, synthetic controlled substances, and acetominophen.
  • Medical Imaging products include contrast media and radiopharmaceuticals for medical imaging applications.

In the fourth quarter of 2014, Specialty Pharmaceuticals accounted for 74% of net sales. Key specialty pharmaceutical products include[16]

  • Achtar gel, an injectable biological drugs used for the treatment of infantile spasms, acute exacerbations of multiple sclerosis, and certain orphan diseases
  • Offirmev is a proprietary IV formulation of acetominophen used in conjunction with opioid painkillers in the post surgical setting.
  • Xartemis XR is a controlled release oral combination of acetominophen and oxycodone for the treatment of acute pain.
  • Exalgo is a once-daily, long-acting form of hydromorphone, another pain drug.

Key generic specialty products include:[17]

  • Hydrocodone API and tablets
  • Oxycodone API and tablets
  • Methylphenidate hydrochloride extended release tablets
  • Other controlled substances, including acetominophen-containing products

Medical Imaging products include Optiray (ioversol injection), an iodide based contrast medium for CT scans, and Optimark (gadoversetamide injection) a Gadolinium-Based Contrast Agent used in magnetic resonance imaging of the brain or liver.

References[edit]

  1. ^ a b c "http://www.marketwatch.com/investing/stock/cov/profile". Wall Street Journal. 1 July 2013. Retrieved 18 July 2013. 
  2. ^ a b "Form 10-K". Retrieved 6 November 2012. 
  3. ^ "Covidien to Spin Off Drug Unit - WSJ.com". Retrieved 6 November 2012. 
  4. ^ "SHSMO-St. Louis s0452 MALLINCKRODT, EDWARD, JR. (1878-1967)". Retrieved 3 April 2013. 
  5. ^ "Mallinckrodt: a timeline : Business". Retrieved 6 November 2012. 
  6. ^ "TIMELINE: Mallinckrodt over the years - St. Louis Business Journal". Retrieved 6 November 2012. 
  7. ^ "Tyco to Buy Mallinckrodt for $3.2 Billion - Los Angeles Times". Retrieved 18 March 2013. 
  8. ^ "Tyco Healthcare completes spin-off as Covidien - St. Louis Business Journal". Retrieved 6 November 2012. 
  9. ^ http://www.reuters.com/article/reutersEdge/idUSN0237854220070702%7C Reuters press release Mon Jul 2, 2007 4:29pm EDT
  10. ^ "Covidien Spinning Off Drugs Unit to Focus on Pain Management - Bloomberg". Retrieved 6 November 2012. 
  11. ^ "Covidien completes $100M CNS Therapeutics deal - Businessweek". Retrieved 6 November 2012. 
  12. ^ "Mallinckrodt plc Completes $1.4 Billion Acquisition of Cadence Pharmaceuticals, Inc.". Yahoo Finance. 19 March 2014. Retrieved 10 January 2015. 
  13. ^ Armstrong, Drew; Serafino, Phil (7 April 2014). "Mallinckrodt Agrees to Buy Questcor for $5.6 Billion". Bloomberg. Retrieved 10 January 2015. 
  14. ^ "Mallinckrodt Set to Join the S&P 500; Rowan to Join S&P MidCap 400; GulfMark Offshore to Join S&P SmallCap 600". Yahoo Finance. 14 August 2014. Retrieved 10 January 2015. 
  15. ^ "www.sec.gov". 
  16. ^ "www.sec.gov". 
  17. ^ "www.sec.gov". 

External links[edit]