The pharmaceutical arm of Covidien, Mallinckrodt has acquired CNS Therapeutics and its pipeline of pain and spasticity drug programmes for a reported $100 million. As it prepares to be spun out as a public company, St. Louis-based Mallinckrodt says that the buyout will complement its own R&D work in the field.
„This acquisition supports our strategy of leveraging our therapeutic expertise and our core capabilities in manufacturing, regulatory and commercialization to serve patients,“ said Mark Trudeau, President of Pharmaceuticals. „CNS Therapeutics‘ marketed product line complements our branded portfolio. Their central nervous system and pain management products in development complement our pipeline and address an important need for patients.“
Mallinckrodt has nine programmes currently in development, including three branded therapies.
Subject to customary closing conditions, the deal is expected to be complete by the fourth quarter of 2012.
[ilink url=“http://www.fiercebiotech.com/story/mallinckrodt-swallows-cns-therapeutics-drug-pipeline-100m-buyout/2012-09-24″]Mallinckrodt swallows CNS Therapeutics‘ pipeline[/ilink]