Mallinckrodt Pharmaceuticals reports that it will acquire Ikaria for approximately $2.3 billion. Ikaria is a critical care company focusing on severely ill infants in hospital neonatal intensive care units. Mallinckrodt officials say the deal is expected to strengthen its footprint in hospitals, extending its presence from its current base of diagnostic radiology and multimodal pain management in surgical specialties.
“This transaction demonstrates our ongoing commitment to transform Mallinckrodt into a leading, high-performing specialty biopharmaceutical company with a diverse and durable portfolio,” noted Mark Trudeau, president and CEO of Mallinckrodt.
Ikaria’s lead product, INOmax® (Inhaled Nitric Oxide), is a vasodilator which, in conjunction with ventilatory support and other appropriate agents, is indicated for the treatment of term and near-term neonates with hypoxic respiratory failure.