Edition:
United Kingdom

Mallinckrodt Will Sell Recothrom, Preveleak To Baxter for $185 Mln


Monday, 8 Jan 2018 

Jan 8 (Reuters) - Mallinckrodt Plc :MALLINCKRODT WILL SELL RECOTHROM® AND PREVELEAK® TO BAXTER.MALLINCKRODT - TOTAL DEAL CONSIDERATION OF $185 MILLION, WITH $153 MILLION UPFRONT, INCLUDING EXISTING INVENTORY, REMAINDER IN POTENTIAL MILESTONE PAYMENTS.MALLINCKRODT PLC - WILL RETAIN RAPLIXA FOR TOPICAL USE AND IS EVALUATING STRATEGIC OPTIONS FOR THIS PRODUCT.MALLINCKRODT - ‍ SALE IS ANTICIPATED TO DILUTE CO'S ADJUSTED EARNINGS PER SHARE BY $0.10 TO $0.15 IN 2018, WHICH WILL BE OFFSET BY SHARES REPURCHASED DURING Q4 2017​.MALLINCKRODT PLC - COMPANY WILL DISCONTINUE MARKETING OF RAPLIXA UPON CLOSE OF BAXTER TRANSACTION.MALLINCKRODT PLC - PROCEEDS FROM SALE WILL BE USED BY COMPANY TOWARD PAYING DOWN DEBT.MALLINCKRODT PLC - ‍WRITE-OFF FOR RAPLIXA​ WILL BE REPORTED FOR Q4 2017. 

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