Mallinckrodt is buying CNS Therapeutics for about $100 million. The acquired firm is focused on the development and commercialization of pharmaceuticals for site-specific delivery to the central nervous system, for the treatment of neurological disorders and intractable cancer pain. Its FDA-approved product, Gablofen® (baclofen injection) is a branded AP-rated generic Lioresal® Intrathecal (baclofen injection) for the treatment of spasticity.
“This acquisition supports our strategy of leveraging our therapeutic expertise and our core capabilities in manufacturing, regulatory, and commercialization to serve patients,” comments Mark Trudeau, Mallinckrodt president for 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 is the pharmaceuticals business of healthcare products provider Covidien, which specializes in products for diagnostic procedures and the treatment of pain and related conditions. In December 2011 Covidien announced plans to spin off the firm as a stand-alone company. The move is expected to be completed during mid-2013.