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Mallinckrodt to buy Therakos for $1.3bn

Mallinckrodt, along with The Gores Group and through its subsidiary, has agreed to acquire immunotherapy firm Therakos, for around $1.325bn.

Therakos

The acquired business will expand Mallinckrodt specialty brands portfolio and diversifies its hospital offerings through the addition of high-margin drug-device system that is already used in hospitals and major medical centers in around 25 countries.

Mallinckrodt president and CEO Mark Trudeau said: "This transaction demonstrates our ongoing commitment to building a strong, highly profitable Hospital growth business as we build and diversify Mallinckrodt’s specialty brands portfolio."

Therakos provides treatment platforms that help patients’ immune systems to fight disease and its extracorporeal photopheresis (ECP) is used to deliver autologous immune cell therapy.

Therakos Photopheresis received approval from the US Food and Drug Administration (FDA) to treat skin manifestations of cutaneous T-cell lymphoma (CTCL) in persons who have not been responsive to other forms of treatment.

Outside the US, Therakos Photopheresis obtained approval for ECP, allowing physicians to use in different conditions including CTCL, Graft Versus Host Disease, Crohn’s disease, solid organ transplants and other diseases.

Therakos therapeutic platforms, including Cellex Photopheresis System, are fully integrated systems developed to administer autologous immune cell therapy through ECP.

Cellex Photopheresis System is said to be marketed as an outpatient therapy delivered through an integrated drug-device combination and expected to support similar medication technology service offerings such as Inomax.

Subject to customary closing conditions, the deal is expected to be completed in the third quarter of this year.


Image: The acquisition of Therakos is expected to expand Mallinckrodt’s hospital offerings. Photo: courtesy of PinkBlue/ FreeDigitalPhotos.net.