Drugmakers Mallinckrodt, Endo to Merge, Plan NYSE Listing | Global News Avenue

Dublin-based Mallinckrodt is taking over smaller rival Endo and plans to list merged companies in the company New York Stock Exchange (NYSE)two drugmakers said Thursday.

Under the terms of the agreement, shareholders based in Malvin, Pennsylvania will receive $80 million in cash and own 49.9% of the combined company. Mallinckrodt will become the holding company of the merged company Due to the shape The company is worth $6.7 billion and its shareholders will control 50.1%.

Once the merger is completed and the unit is “later” with Endo’s sterile injectable materials business, these companies plan to combine their general medicine operations with Endo’s sterile injectable materials business. The merger has been approved by two boards and is expected to close in the second half of 2025.

“We believe that this combination, with Mallinckrodt, and the subsequent separation of sterile injections and generic businesses, presents a unique opportunity to provide huge shareholder value,” said Scott Hirsch, interim CEO of Endo Interim.

Both companies have emerged from bankruptcy in recent years. They also deal with lawsuits related to opioid production.