UK speciality pharma Mallinkcrodt is delving deeper into the hospital market through a $1.33 billion agreement to snap up US immunotherapy group Therakos.
The deal gives Mallinckrodt access to Therkos’ key cell therapy platform approved for the palliative treatment of the skin manifestations of cutaneous T-cell lymphoma (CTCL) in patients who have not responded to other forms of treatment.
The flagship CELLEX Photopheresis System is already installed in more than 350 academic medical centres and hospitals in 25 countries around the globe, and Mallinckrodt believes it has “significant potential value in a variety of complex disease states and conditions”.
The move further expands the company’s presence in hospitals from multimodal surgical pain management and critical care respiratory therapies in neonatal intensive care units to include new therapies that harness the patient’s own immune systems to fight disease and improve health.
“Therakos is, quite simply, another excellent fit for Mallinckrodt,” said the firm’s chief executive Mark Trudeau, also noting that the deal “demonstrates our ongoing commitment to building a strong, highly profitable Hospital growth business as we build and diversify [the] Specialty Brands portfolio”.
Subject to customary closing conditions, the parties expect the transaction to complete in the latter part of the third calendar quarter, which is Mallinckrodt’s fourth fiscal quarter.
Back in March, Mallinckrodt bought Ikaria for $2.3 billion, but its deal with Therakos also marks the latest in a very long line of hook-ups within the healthcare sector this year. According to Thomson Reuters, more than 1,600 deals worth around $430 billion have taken place in the last eight months, an 88% rise over last year, reports Reuters.