DEALMAKING:Mallinckrodt To Buy Questcor for $5.6 Billion
Deal adds high-value specialty drug to pharma’s growing pipeline.
Global specialty pharmaceutical Mallinckrodt says it will merge with U.S.-based Questcor Pharmaceuticals in a cash and stock deal valued at about $5.6 billion. Questcor’s primary product is H.P. Acthar Gel, an injectable drug used to management difficult-to-treat autoimmune and inflammatory conditions, among them multiple sclerosis relapses in adults and infantile spasms. Questcor’s sales of Acthar, practically its only source of revenue, were $761 million in 2013, up 50 percent from the previous year. Read More