Malvern-based Endo, a diversified pharmaceutical company, and Ireland-based Mallinckrodt plc, a pharmaceuticals manufacturer, recently provided an update on their intended merger.
“Exactly two months ago today, we announced the proposed merger and we are quite pleased by the rapid progress we have made toward creating an exciting new future for our shareholders, customers, employees, and, most importantly, the patients we serve,” Siggi Olafsson, Mallinckrodt president and CEO, said. “We remain excited about the potential benefits of this merger and for the opportunity to accelerate value creation through our unique portfolio of specialty and generic therapeutics.”
Irish High Court has provided Mallinckrodt permission to schedule a special meeting of its shareholders on June 13 to consider and vote on the proposed transaction. Endo also has a shareholder meeting scheduled on June 13. The applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired, and a joint proxy statement for the companies’ special meetings of Mallinckrodt and Endo is now effective.
Olafsson will become president and CEO of the combined company that will focused on diversified therapeutics. Mallinckrodt will be the holding company while Endo will become a wholly owned subsidiary. Mallinckrodt’s Dublin headquarters will serve as the combined company’s global headquarters.