HAZELWOOD, Mo.--(BUSINESS WIRE)-- Mallinckrodt, the Pharmaceuticals business of Covidien (NYSE: COV), today announced that it has completed its acquisition of CNS Therapeutics, Inc. for approximately $100 million. CNS is a privately held specialty pharmaceuticals company focused on developing and commercializing products for site-specific administration to the central nervous system to treat neurological disorders and intractable chronic pain.
“We are excited to welcome the CNS team to the Mallinckrodt family,” said Mark Trudeau, President, Pharmaceuticals. “CNS Therapeutics’ marketed product line complements our branded portfolio and supports our strategy of leveraging our therapeutic expertise and our core capabilities in manufacturing, regulatory and commercialization to serve patients.”
Covidien does not expect this transaction to have a material impact on its fiscal 2013 sales or earnings per share. Covidien will report the CNS Therapeutics business in the Specialty Pharmaceuticals product line within the Pharmaceuticals segment.
Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2011 revenue of $11.6 billion, Covidien has 43,000 employees worldwide in more than 65 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.
Mallinckrodt, the pharmaceuticals business of Covidien, is a vertically integrated leader in providing products used in diagnostic procedures and in the treatment of pain and related conditions. The company is the largest U.S. supplier, by prescription, of opioid pain medications and a leading manufacturer of active pharmaceutical ingredients. It is also the largest U.S. supplier of the medical isotope technetium-99m and an industry leader in radiopharmaceuticals and contrast media and delivery systems. Sales in 2011 were $2.0 billion. Please visit www.mallinckrodt.com to learn more about our business.
Lynn Phillips, 314-654-3263
Manager, Media Relations
Coleman Lannum, CFA, 508-452-4343
Stephen Littlejohn, 314-654-6595
Vice President Communications
Todd Carpenter, 508-452-4363