Mallinckrodt has completed the spin-off from its former parent company Covidien and has launched as a $2.1 billion publicly traded specialty pharmaceutical company.
By focusing on formulation, development, manufacturing, distribution, and commercialization in markets such as controlled substances, Mallinckrodt believes it can expand overall sales by accelerating growth.
The distribution of Mallinckrodt ordinary shares took place on June 28, 2013. In the distribution, the company issued one ordinary share for every eight Covidien ordinary shares held as of the close of business on June 19, 2013, the date of record for the distribution.
