Mallinckrodt’s Generics Bounce Back Ahead Of Spin-Off
Mallinckrodt’s Specialty Generics business returned to growth ahead of a planned spin-off into a separate company by the end of 2019.
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Mallinckrodt has altered the composition of the Specialty Generics business that it plans to spin off by the end of this year, removing its Amitiza brand. The firm says it now has a “full management team in place” for the Specialty Generics unit after naming Eric Slusser as chief financial officer, to serve under president and CEO Matthew Harbaugh.
The US Supreme Court has lifted a stay on document discovery in a multi-state lawsuit in which dozens of generics companies – including Teva, Mylan and Pfizer – are accused of price fixing. The ruling will allow a swathe of documents to be released in what Connecticut’s attorney general has said is potentially “the largest cartel case” in US history.
Daraprim, which saw its price jacked up by 4,000% by former drug company executive Martin Shkreli, now has a competitor with the US Food and Drug Administration’s approval of the first generic version of the nearly seven-decade-old drug used to treat a life-threatening parasitic infection known as toxoplasmosis.