DUBLIN, Ireland & MALVERN, PA — Mallinckrodt plc and Endo, Inc. (OTCQX: NDOI) have announced significant steps forward in their proposed merger aimed at creating a global leader in specialty and generic therapeutics. With critical regulatory and legal hurdles cleared, the companies are on track to finalize the transaction in the second half of 2025.
Key milestones achieved include the U.S. Securities and Exchange Commission declaring Mallinckrodt’s S-4 registration statement effective as of May 8, 2025, and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Additionally, the Irish High Court has approved the convening of special shareholder meetings for June 13, 2025, at which Mallinckrodt and Endo stakeholders will vote on the transaction.
“Exactly two months ago today, we announced the merger, and we are quite pleased with the rapid progress made toward this transformational opportunity,” said Siggi Olafsson, President and CEO of Mallinckrodt. “This merger represents a significant step forward in accelerating value creation through our robust portfolio of specialty and generic therapeutics.” Olafsson is also slated to lead the combined company as President and CEO.
The strategic vision for the merger includes the eventual spin-off of the combined generic pharmaceuticals and Endo’s sterile injectables business into a standalone entity, while the company’s branded pharmaceuticals segment will operate independently. This separation, subject to board approval, is intended to optimize focus and resources for the distinct businesses.
“This approach represents an exciting opportunity to create two leading companies that serve distinct customer sets,” stated Scott Hirsch, Interim CEO of Endo. “The complementary nature of our businesses and the strategy behind this merger will not only unlock greater potential but also enhance our ability to meet the needs of patients and customers.”
Under the terms of the agreement, Mallinckrodt shareholders will hold 50.1% of the combined company, with Endo shareholders owning 49.9% and receiving a total of $80 million in cash, subject to potential increases. Mallinckrodt will retain its Dublin headquarters, which will also serve as the global headquarters for the merged entity, while Endo will become a wholly owned subsidiary.
With shareholder votes scheduled and regulatory clearances secured, the merger is likely to close in the latter half of this year. The transaction represents a significant evolution for both companies, positioning them to better serve patients, streamline operations, and strengthen their presence in the global therapeutics market.
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