Mallinckrodt Acquires Critical Care Devicemaker Ikaria for $2.3 Billion

Specialty drugmaker Mallinckrodt said Thursday it had acquired Hampton, N.J., devicemaker Ikaria for $2.3 billion. The deal, to be finalized by the second quarter, will add at least $150 million to the Mallinckrodt’s fiscal year earnings, the Dublin, Ireland, firm said.

Ikaria’s makes critical care products for infants in hospital neonatal intensive care units. Its lead product is INOmax, a vasodilator used to treat newborns with respiratory illness. The devicemaker is also developing a product to treat Hepato-Renal Syndrome Type 1, a kidney disease with no approved therapy in the U.S.

“With this expansion into respiratory neonatal critical care, we expect to further broaden our touch points in the hospital market and at the same time diversify our portfolio with durable assets that play vital roles in the treatment of vulnerable patient populations,” said Mallinckrodt President and CEO Mark Trudeau. — Kellen Owings