Mallinckrodt repositions top executive, may be eyeing acquisition

Courtesy of Mallinckrodt Pharmaceuticals
Dr. Gary Phillips | Courtesy of Mallinckrodt Pharmaceuticals

Some two months after the Food and Drug Administration reclassified one of Mallinckrodt’s drugs, essentially pulling it from the market, the Hazelwood-based pharmaceutical company has repositioned some of its top executives and expressed a desire to “redouble its focus on portfolio expansion.”

That, an analyst says, means Mallinckrodt is shopping for another acquisition. Following the company’s purchase of California-based Questcor Pharmaceuticals in August, Mallinckrodt appointed Dr. Gary Phillips as senior vice president and president of the company’s autoimmune and rare disease business.

Now, Phillips is returning to his previous post as senior vice president and chief strategy officer, which analysts say means the company wants him to handle more business development.

Read more from the St. Louis Post-Dispatch

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