Mallinckrodt to make $1.2bn acquisition

Mallinckrodt has revealed plans to acquire biopharmaceutical company Sucampo Pharmaceuticals for $1.2 billion.

The acquisition will boost earnings per share by at least $0.30 in 2018, and at least twice that figure in 2019, according to Mallinckrodt.

As part of the deal, Mallinckrodt will acquire all of Sucampo’s development and commercial assets including Amitiza (lubiprostone), a product used to treat chronic idiopathic constipation.

Mallinckrodt will also acquire global rights to Rescula (unoprostone isopropyl ophthalmic solution), a treatment for ocular hypertension and open-angle glaucoma which is marketed in Japan.

Sucampo also has two rare disease drug candidates, VTS-270 and CPP-1X/sulinda, in its pipeline. Approval is expected in 2019.

Mark Trudeau, CEO and president of Mallinckrodt, said: “Mallinckrodt’s acquisition of Sucampo is the latest milestone towards our vision of becoming an innovation-driven speciality pharmaceutical growth company focused on improving outcomes for patients with severe and critical conditions.”

Peter Greenleaf, chairman and CEO of Sucampo, added that the transaction represents significant value for shareholders.

He said: “With the addition of its significant resources and expertise, we believe Mallinckrodt is a natural partner to accelerate the development of our rare disease asset … and to continue to provide Amitiza for patients suffering from constipation-related disorders.”

Mallinckrodt made the announcement on December 26.

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