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Mallinckrodt acquires Ikaria for $2.3 billion

by Gus Iversen, Editor in Chief | April 17, 2015
Through a $2.3 billion acquisition announced yesterday, Mallincrodt has expanded its presence in the hospital market and neonatal critical care segment. Ikaria, Inc. — and their inhaled nitric oxide treatment option for neonates — are now under the Mallinckrodt umbrella.

INOMAX is a vasodilator used in conjunction with ventilatory support for the treatment of term and near-term neonates with hypoxic respiratory failure associated with pulmonary hypertension. The treatment improves oxygenation and reduces the need for extracorporeal membrane oxygenation.

The transaction, which took place will all cash, is expected to add $150 million to Mallinckrodt's net sales for fiscal year 2015.

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"To fully realize the significant potential of our new and expanded portfolio, it's critical that we increase our capacity as well as deepen and broaden our commercial capabilities," said Mark Trudeau, Mallinckrodt's president and CEO, in a statement. "I'm confident that intensified leadership focus will enable us to achieve our goals."

As a result of the acquisition, and to continue its growth with specialty pharmaceuticals, Ikaria's former chairman, Hugh O'Neill, and CEO, Daniel Tasse, will come on board with Mallinckrodt as commercial senior vice presidents.

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