Mallinckrodt completes US$1.4bn purchase of Cadence Pharmaceuticals
Expands its US hospitals channel with addition of pain product Ofirmev
Speciality pharmaceuticals company Mallinckrodt has completed its acquisition of Cadence Pharmaceuticals, based in San Diego, US, for US$1.4bn. The companies announced the deal in February and Mallinckrodt expects the acquisition to add to its adjusted net income immediately.
Cadence's Ofirmev (acetaminophen) injection, a high-growth, differentiated pain product, will be added to Mallinckrodt’s speciality pharmaceuticals portfolio. The product also provides Mallinckrodt with an expanded presence in the US hospital channel.
'As anticipated, the transaction was straightforward, closed quickly, and we are planning for a rapid and successful integration which we expect to be completed by the beginning of September,' said Mark Trudeau, President and Chief Executive of Mallinckrodt.
