Mallinckrodt Lays Off 35 In St. Louis As It Prepares To Spin Off

Express Scripts and Walgreens and have worked out a prescription drug deal.
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Mallinckrodt last week laid off close to 100 employees, including 35 in the St. Louis area, as the pharmaceutical company prepared to spin off from its parent company, Covidien, by late June.

A Mallinckrodt spokeswoman said that, despite the cuts, the company plans to eventually increase its overall workforce with hires in other areas. Mallinckrodt, which reported $2 billion in sales in 2012 and expects that figure to jump 11 percent once the company is spun off, has close to 2,500 employees in the St. Louis area, its hub for U.S. operations, and 5,500 worldwide.

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