Mallinckrodt signs pact with Xanodyne Pharma to buy Roxicodone
The pharmaceuticals businesses of a leading global healthcare products company Covidien, Mallinckrodt has entered into an agreement with Xanodyne Pharmaceuticals to buy Roxicodone in 5,15, and 30 mg dosage strengths.
Roxicodone is an immediate release formulation of oxycodone indicated to manage moderate to severe pain where the use of an opioid is appropriate. It is currently marketed in the U.S.
With this agreement, Mallinckrodt buys all the rights to Roxicodone New Drug Application. Roxicodone tablets are contraindicated in patients with known hypersensitivity to oxycodone or in any situation where opioids are contradicted. These tablets are contraindicated in patients who has or are suspected of having paralytic ileus.
The company did not disclose any financial details. Mark Trudeau, President, Pharmaceuticals said, “We are excited about this agreement as it complements our existing portfolio of opioids and leverage our pain management expertise.” Mr. Trudeau also said, “More importantly, we are committed to safe and effective use of all our products along with ensuring access for all patients in the need of pain treatment.”
Mallinckrodt is the largest U.S. based supplier of opioid pain medications and amongst the top 10 generic pharmaceuticals manufacturers in the U.S. based on prescriptions. The company is also known to produce bulk acetaminophen.
Last December, Covidien announced it had planned to spin off Mallinckrodt into a stand-alone company. This process is expected to be completed in mid-2013.
Covidien is a leading global healthcare products company involved in offering medical solutions for patient outcomes and delivers value through clinical leadership and excellence. It manufactures and distributes industry-leading product lines in segments including medical devices, pharmaceuticals and medical supplies.