Both companies are in the pain business and this gives Mallinckrodt Cadence's pain drug Ofirmev which is an injectable version of acetaminophen. In addition to opioid pain relievers Mallinckrodt also carries quite a few central nervous system products.
Years ago in logistics I used to do business with Mallinckrodt in Irvine. BD
An Irish pharmaceutical company agreed to acquire Cadence Pharmaceuticals Inc. in San Diego for about $1.3 billion in an effort to boost its specialty drugs portfolio.
Dublin-based Mallinckrodt agreed to pay $14 a share for the company, a 26% premium over Cadence's closing price Monday of $11.07. The boards of both companies have approved the deal.
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