Covidien’s Board Approves Pharmaceutical Spin-off

Mallinckrodt, the pharmaceuticals division of health care products company Covidien, will be a separate public company that will trade on the New York Stock Exchange starting July 1. Covidien’s board has approved the spin-off of Mallinckrodt, which currently has its segment global headquarters in the St. Louis area. Mallinckrodt reported $2 billion in sales in 2012 and expects up to 11 percent sales growth in its first year as a standalone company.

Read more from the St. Louis Business Journal

Leave a Reply