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Mallinckrodt (NYSE:MNK) has announced that it will buy Therakos, a privately held immunotherapy company, for $1.33 billion.
Mallinckrodt (NYSE:MNK) has announced that it will buy Therakos, a privately held immunotherapy company, for $1.33 billion.
According to Pharmaceutical Processing:
Therakos’ Photopheresis system collects immune cells from a patient’s blood, treats the cells with ultraviolet light to activate them, and returns them to the patient’s body so they can attack a disease. In the U.S. its system is used to treat skin problems caused by cutaneous T-cell lymphoma, a type of blood cancer that involves the skin. It’s approved for patients who haven’t been helped by other treatments. The device has been approved for conditions like Crohn’s disease and organ transplants in other countries.
Mallinckrodt says Therakos expects 2015 annual sales of around $185 million to $195 million and expects high-single-digit percentage growth. It added that Therakos’ system has strong profit margins and said the device should add 10 cents per share to its profit in its next fiscal year, with bigger contributions in subsequent years.
Click here to read the full article on Pharmaceutical Processing.