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]

Three former company sites are on the List of Superfund sites in Missouri.

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. [4]

History[edit]

Early history[edit]

In 1867, the Mallinckrodt brothers, Gustav, Otto and Edward, founded G. Mallinckrodt & Co. in St. Louis, Missouri.[5] 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 [6]
  • 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. [7]
  • 2000 – Tyco International acquires Mallinckrodt [8]
  • 2007 – Tyco Healthcare spins off and becomes Covidien, an independent company [9] The healthcare business units were spun off under the name Covidien.[10]
  • 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 [11]
  • 2012 – Mallinckrodt announces acquisition of CNS Therapeutics for $100 million [12]
  • 2013 - Mallinckrodt spins off from Covidien and begins trading under ticker symbol MNK [13]

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]

Mallinckrodt is the largest U.S. supplier, by prescription, of opioid pain medications and the largest U.S. supplier of the medical isotope technetium-99m. The company is among the top 10 generic pharmaceuticals manufacturers in the United States.[14] The company is also the largest producer of bulk acetaminophen. [15]

Sourcing[edit]

Mallinckrodt sources ingredients nationally and outside of the U.S. The company legally sources cocaine from the Stepan Company plant in Maywood, New Jersey. Federal restrictions bar the importation of drugs, such as Esterom, manufactured from cocaine, which therefore requires that manufacturers use the Stepan Company.[16] Mallinckrodt is also one of the U.S. importers of opium from India.[17]

The most famous federally approved cannabis grower, Dr. Mahmoud El Sohly, has also testified he has begun legally selling THC extracted from his marijuana farm at the University of Mississippi to the drug company Mallinckrodt. The National Institute on Drug Abuse at the University of Mississippi supplied Mallinckrodt with marijuana to produce a generic version of Marinol until the project ended in 2010. [18]

References[edit]

  1. ^ "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. ^ "http://www.marketwatch.com/investing/stock/cov/profile". Wall Street Journal. 1 July 2013. Retrieved 18 July 2013. 
  5. ^ "SHSMO-St. Louis s0452 MALLINCKRODT, EDWARD, JR. (1878-1967)". Retrieved 3 April 2013. 
  6. ^ "Mallinckrodt: a timeline : Business". Retrieved 6 November 2012. 
  7. ^ "TIMELINE: Mallinckrodt over the years - St. Louis Business Journal". Retrieved 6 November 2012. 
  8. ^ "Tyco to Buy Mallinckrodt for $3.2 Billion - Los Angeles Times". Retrieved 18 March 2013. 
  9. ^ "Tyco Healthcare completes spin-off as Covidien - St. Louis Business Journal". Retrieved 6 November 2012. 
  10. ^ http://www.reuters.com/article/reutersEdge/idUSN0237854220070702%7C Reuters press release Mon Jul 2, 2007 4:29pm EDT
  11. ^ "Covidien Spinning Off Drugs Unit to Focus on Pain Management - Bloomberg". Retrieved 6 November 2012. 
  12. ^ "Covidien completes $100M CNS Therapeutics deal - Businessweek". Retrieved 6 November 2012. 
  13. ^ "http://www.marketwatch.com/investing/stock/cov/profile". Wall Street Journal. 1 July 2013. Retrieved 18 July 2013. 
  14. ^ "Covidien to spin off pharmaceuticals business - St. Louis Business Journal". Retrieved 6 November 2012. 
  15. ^ "Trudeau leads Covidien spinoff, expansion - St. Louis Business Journal". Retrieved 3 April 2013. 
  16. ^ "SEC filing by Esterom, Inc.". Retrieved 2007-07-01. 
  17. ^ Senlis Council. "Feasibility Study on Opium Licensing in Afghanistan". 
  18. ^ "Researchers Find Study of Medical Marijuana Discouraged". New York Times. 18 January 2010. Retrieved 3 April 2013. 

External links[edit]