Mallinckrodt

For other uses, see Mallinckrodt (disambiguation).
Mallinckrodt Pharmaceuticals plc
Company typePublic
ISINIE00BBGT3753
IndustryPharmaceutical
Founded1867; 157 years ago (1867)
Headquarters
Key people
  • Paul Bisaro (chairman)
  • Siggi Olafsson (CEO)
  • Bryan Reasons (CFO)
RevenueDecrease US$1.87 billion (2023)[1]
Decrease −US$538 million (2023)[1]
Decrease −US$1.67 billion (2023)[1]
Total assetsIncrease US$3.73 billion (2023)[1]
Total equityDecrease US$1.16 billion (2023)[1]
Number of employees
2,800 (2023)[1]
Websitemallinckrodt.com

Mallinckrodt Pharmaceuticals plc is an American-Irish domiciled manufacturer of specialty pharmaceuticals (namely, adrenocorticotropic hormone), generic drugs and imaging agents.[2] In 2017, it generated 90% of its sales from the U.S. healthcare system. While Mallinckrodt is headquartered in Ireland for tax purposes, its operational headquarters are in the U.S.[3] Mallinckrodt's 2013 tax inversion to Ireland drew controversy when it was shown Acthar was Medicaid's most expensive drug.[4]

Mallinckrodt acquires (for repricing), manufactures, and distributes products used in diagnostic procedures and in the treatment of pain and related conditions. This includes the acquisition, manufacture, and distribution of specialty pharmaceuticals, active pharmaceutical ingredients, contrast products, and radiopharmaceuticals.[5] The company employed 5,500 and had net sales of $3.2 billion in 2017, of which $2.9 billion was from the U.S. healthcare system.[5]

The company has been implicated as a major contributor to the prescription opioid scandal around the over-prescription of oxycodone in the United States.[6]

  1. ^ a b c d e f "News & Media - Mallinckrodt Pharmaceuticals".
  2. ^ "Mallinckrodt". The Wall Street Journal. 1 July 2013. Archived from the original on 10 December 2013. Retrieved 14 March 2017.
  3. ^ "Mallinckrodt agrees deal to exploit Irish tax base". Irish Independent. 8 April 2014. Pharma firm Mallinckrodt has agreed to buy Questcor Pharmaceuticals for $5.6bn (€4bn) to add specialty drugs in the latest industry deal that moves a US company to Ireland for a lower tax rate. Mallinckrodt, with a registered headquarters in Dublin and run from Hazelwood, Missouri, will pay $86.08 a share for Anaheim, California-based Questcor.
  4. ^ Cite error: The named reference business was invoked but never defined (see the help page).
  5. ^ a b Cite error: The named reference sec1 was invoked but never defined (see the help page).
  6. ^ Davis, Aaron C.; Boburg, Shawn; O'Harrow Jr., Robert (July 26, 2019). "Little-known makers of generic drugs played central role in opioid crisis, records show". The Washington Post.