Mallinckrodt completes merger with Questcor

DUBLIN — Mallinckrodt announced that it has completed the acquisiton of Questcor Pharmaceuticals in a transaction valued at $5.8 billion. Under the terms of the merger, Questcor shareholders will receive $30 in cash and 0.89 of a Mallinckrodt ordinary share for each Questcor share, the company stated.

"We are pleased to complete this transformative transaction and believe it will provide a strong, durable, well-diversified and sustainable platform, capable of generating significant future revenue and earnings growth for Mallinckrodt shareholders," said Mark Trudeau, president and CEO of Mallinckrodt. "HP Acthar Gel has demonstrated success in treating patients suffering from a variety of devastating and difficult-to-treat autoimmune and inflammatory illnesses. We are confident that Acthar will be a strong complement to Mallinckrodt's broadening portfolio of leading specialty pharmaceutical brands, and we look forward to leveraging our extensive manufacturing and scientific expertise, as well as our experience with advocacy and payer communities, to capitalize on the many opportunities it presents."

Commercial operations supporting HP Acthar gel will function as a separate business within the company's specialty pharmaceuticals segment. It will be referred to as the autoimmune and rare diseases business within Mallinckrodt.

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