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The Associated Press
Thu, Mar 13, 2025, 6:10 AM 1 min read
Ireland’s Mallinckrodt volition bargain U.S. drugmaker Endo successful a cash-and-stock woody valued astatine $6.7 billion.
The companies said Thursday that Endo shareholders volition person a full of $80 cardinal successful currency and ain astir 50% of the combined company. Mallinckrodt shareholders volition person a involvement of somewhat much than 50%.
The companies program to harvester their generic pharmaceutical businesses and a sterile injectables concern from Endo, but they volition yet abstracted that business.
Mallinckrodt CEO Siggi Olafsson volition tally the combination, which volition beryllium based successful Dublin. But its leaders accidental it volition person a large U.S. operating footprint.
In total, the operation volition person 17 manufacturing sites, 30 organisation centers and astir 5,700 employees.
The woody was announced a time aft Irish Prime Minister Micheál Martin met President Donald Trump astatine the White House. During that meeting, Trump brought up the attraction of U.S. pharmaceutical companies based successful Ireland owed to the country’s taxation policies.
The woody has been approved by the boards of some companies, but shareholders and regulators inactive request to OK it. The operation is expected to adjacent successful the 2nd fractional of the year.
Malvern, Pennsylvania-based Endo Inc. volition go a wholly owned subsidiary of Mallinckrodt.
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