Mallinckrodt is looking into the sale of its generic drug business, according to people familiar with the matter. The deal could bring the drugmaker $2 billion and move its focus to higher-margin branded pharmaceuticals.
It would complete a strategic shift for Mallinckrodt, which has its U.S. headquarters in the St. Louis area. The company originally specialized in generic drugs, but it now generates the bulk of its revenue from brand-name products.
Mallinckrodt has hired Credit Suisse Group AG to run a sale process for the unit, sources said, asking not to be named because the deliberations are private.
Read more: St. Louis Post-Dispatch