Two companies of similar economic scale and each with its own troubled financial history revealed plans to merge on 13 March, as privately held Mallinckrodt and publicly traded Endo will combine into a specialty pharma expected to yield $3.6bn in pre-tax earnings in 2025. Both have survived recent bankruptcy filings and lawsuits related to the opioid crisis in getting to this milestone.
Endo And Mallinckrodt Plan To Merge - And Spin Off Generics Business
CEO Siggi Olafsson Will Lead The Combined Firm
Both vexed by bankruptcies and opioid litigation, Endo and Mallinckrodt will merge in a deal valued at $6.7bn. The new company will spin out its generics and sterile injectable business.
More from Deals
• By
India’s Dr Reddy’s and China’s Bio-Thera have struck a deal covering ustekinumab and golimumab biosimilars in multiple markets in south-east Asia.
• By
Cipla has bolstered its ophthalmology portfolio and increased its global offering after chalking up an agreement to add Formosa Pharmaceuticals’ USFDA-approved clobetasol propionate 0.05% ophthalmic suspension.
• By
Along with financial backing from the Canadian government, a fresh, decade-long partnership with Sandoz Canada will allow Delpharm to carry out modernization plans for its manufacturing facility in Boucherville, securing the local supply chain for sterile injectable medicines.
• By
Sweden’s Xbrane has struck a deal to transfer its R&D operations in Sweden and its Cimzia (certolizumab pegol) biosimilar candidate to Alvotech, in a transaction worth around $27m. However, Xbrane told Generics Bulletin that it was not getting out of biosimilar development altogether.
More from Products
• By
Alvotech and Advanz have announced a UK MHRA filing acceptance for their partnered AVT23 proposed biosimilar to Xolair (omalizumab).
• By
Optum Rx, one of the largest PBMs in the US, declared itself as the “first comprehensive, transparent pharmacy services company” after announcing several consumer-friendly changes.
• By
With an ambitious goal to file a biosimilar to the world-renowned Botox brand via the US FDA’s 351(k) regulatory pathway, AEON Biopharma has revealed the latest steps in its plan.