CVC Capital Purchase Mallinckrodt Company Unit for $925M

Mallinckrodt, a speciality pharmaceutical firm, has offered CVC Capital Partners its photopheresis division, Therakos, for $925 million. Producing both name-brand and generic medications, Mallinckrodt acquired Therakos in 2015 for a price close to $1.33 billion.

The business declared that it will utilise the net earnings from its agreement with CVC to pay down more than half of its debt. Important personnel of Therakos will transition with the company and continue helping the product and its stakeholders in accordance with the conditions of the arrangement.

When Mallinckrodt acquired the business almost a decade ago, the company’s goals were to increase its presence in hospitals via drug-device systems and to penetrate the immunotherapy market with extracorporeal photopheresis (ECP).

CVC’s Cathrin Petty and Phil Robinson commented: “We see significant opportunities ahead to expand Therakos’ indications, enter new geographies and bring this innovative treatment to more patients around the world. We look forward to working closely with the talented Therakos team and adding this best-in-class ECP system with an unparalleled efficacy, safety and tolerability profile to our portfolio of healthcare businesses.”