|Traded as||NYSE: MNK
S&P 500 Component
|Revenue||US$3.347 billion (2015)|
|US$308.2 million (2015)|
Number of employees
|5,500 (June 2015)|
Mallinckrodt Pharmaceuticals, based in Staines-upon-Thames, England, with its U.S. headquarters in St. Louis, Missouri, produces specialty pharmaceutical products, including generic drugs and imaging agents.
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.
In 1867, the Mallinckrodt brothers, Gustav, Otto and Edward, founded G. Mallinckrodt & Co. in St. Louis, Missouri. The Mallinckrodt family had immigrated from Germany, and Otto and Edward both returned to Germany, the leading chemical powerhouse of the time, for advanced training. 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.
In part due to early success in production of radiology agents, and at the behest of renowned surgeon Evarts Graham, Edward Mallinckrodt Sr. assigned one of the company's top chemists to collaborate in developing the first radiographic agent for biliary imaging. A posthumous endowment by Edward Mallinckrodt, Jr. on behalf of his father to the Washington University medical school radiology department resulted in the creation of the Mallinckrodt Institute of Radiology.
Nuclear waste in St. Louis, Missouri
Henry Farr and John Ruhoff, technical managers for Mallinckrodt, Inc. were directed by Edward Mallinckrodt, Jr. to develop a chemical process for purifying large quantities of uranium. Uranium purified by Mallinckrodt was used at the University of Chicago Chicago Pile-1, the first nuclear chain reaction. Mallinckrodt also contributed uranium to the Manhattan Project, producing fissionables used in the atomic weapons detonated over Hiroshima and Nagasaki. From 1942 to 1957 Mallinckrodt purified 50,000 short tons (45,000,000 kg) of uranium products at various locations in and around the city of St. Louis. The waste was secretly dumped on Coldwater Creek and in various St. Louis suburbs, including Berkeley, Hazelwood, Bridgeton, and Weldon Spring with the approval of the federal government, which is now taking financial responsibility for the cleanup. The dumping substantially contaminated Coldwater Creek.
Cleanup efforts are now underway by the Army Corps of Engineers. Cleanup sites include the St. Louis Downtown Site (SLDS), where uranium was refined; the St. Louis Airport Site (SLAPS), where waste produced at SLDS was stored; the Hazelwood Interim Storage Site (HISS), where waste from SLAPS was improperly relocated; and the St. Louis Airport Site Vicinity Properties (SLAPS VPs), areas where contamination was caused by relocation of waste. Additional nuclear waste was also illegally deposited at the West Lake Landfill, which has now been designated a Superfund site. Various buildings have been decontaminated and demolished and nuclear material has been excavated and shipped out of St. Louis by covered rail as part of the cleanup process, yet more nuclear waste remains in and around St. Louis.
- 1981 – Mallinckrodt is listed among Fortune 500 companies
- 1982 – Avon Products, Inc. acquires Mallinckrodt
- 1986 – International Minerals and Chemical Corporation (IMCERA Group Inc.) acquires Mallinckrodt from Avon
- 1988 - Malinckrodt featured in NY Times for being the only company to receive an exception from the DEA for cocaine possession/processing.
- 1995 – Mallinckrodt establishes generic pharmaceuticals business
- 1996 – Mallinckrodt Inc. acquires maker of urology imaging systems and injectors, Liebel-Flarsheim Co.
- 2000 – Tyco International acquires Mallinckrodt
- 2007 – Tyco Healthcare spins off and becomes Covidien, an independent company. The healthcare business units were spun off under the name Covidien.
- 2011 – Covidien announces plans to spin off Mallinckrodt Pharmaceuticals as a standalone public company 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.
- 2012 – Mallinckrodt announces acquisition of CNS Therapeutics for $100 million
- 2013 – Mallinckrodt spins off from Covidien and begins trading under ticker symbol MNK
- 2014 – Acquires Cadence Pharmaceuticals and Questcor Pharmaceuticals; joins S&P 500
- 2015 – Acquires Ikaria Inc. for $2.3 billion
- 2015 – Acquires Therakos for $1.325 billion
- 2015 - Sold the Contrast Media and Deliver Systems portion of the portfolio to Guerbet for $270M cash with a loan financed by BNP Paribas 
- 2016 – Acquires regeneratitive medicine company Stratatech
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.
Mallinckrodt has two main product lines.
- 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
- Acthar gel, an injectable biopharmaceutical used for the treatment of infantile spasms, acute exacerbations of multiple sclerosis, and certain orphan diseases. Mallinckrodt acquired this product via its acquisition of Questcor Pharmaceuticals in 2014. When Questcor acquired the drug in 2001 it sold for $40 a vial; within a year of the acquisition Questcor raised the price of the drug to $1,500 per vial and to $28,000 by 2013. In 2013, Questcor acquired the US rights to a competing product, Synacthen Depot, from Novartis. In 2014 Mallinckrodt raised the price of Acthar further to $34,000. The Federal Trade Commission and attorneys general from five states sued Mallinckrodt for anti-competitive behavior with regard to the acquisition of Synacthen Depot and the monopolistic pricing of Acthar, and in January 2017 the company settled, agreeing to pay $100 million and to license Synacthen Depot to a competitor.
- 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:
- Hydrocodone API and tablets
- Oxycodone API and tablets
- Methylphenidate hydrochloride extended release tablets
- Dextroamphetamine sulfate controlled 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.
As of 1988, Mallinckrodt was the only company in the US that is allowed to receive cocaine, which it has used to make cocaine hydrochloride, a prescription drug used in hospitals as a local anesthetic by eye and ear, nose and throat doctors.
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Until 1966, Mallinckrodt processed uranium for nuclear weapons at its main plant along the Mississippi River in downtown St. Louis and in Weldon Spring, 25 miles to the west. Under the cover of national security secrecy, the Government authorized the company to dump radioactive wastes quietly in the suburbs, including a 21-acre Berkeley field owned by St. Louis. It is that field and the 61-acre park across the street that the Government is considering for a permanent storage site.
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- Staton, Tracy (June 18, 2015). "Questcor's Acthar maneuvers land Mallinckrodt in hot water with FTC, state AGs". FiercePharma.
- Galeon, Dom (21 January 2017). "Company Raises the Price of a Drug That Fights Infant Epilepsy by 85,000%". Futurism.