Baxter buys Mallinckrodt ’ s Recothrom, Preveleak sealants for $153m

Baxter (NYSE:BAX) said today it inked an agreement with Mallinckrodt Pharmaceuticals (NYSE:MNK) to acquire its Recothrom and Preveleak hemostat and sealant products for approximately $153 million up front with a potential for contingent payments in the future. Mallinckrodt’s Recothorm is a stand-alone recombinant thrombin-based product with indications as an aid to hemostasis to control oozing blood and minor bleeding from capillaries and small venules when control of bleeding by standard surgical techniques is ineffective or impractical. The Preveleak sealant is designed to seal suture holes during surgical repair of the circulatory system and to reinforce sutured connections between blood vessels. “Uncontrolled intraoperative bleeding can lead to a wide variety of clinical and economic complications for patients and hospitals. As a leading provider of advanced hemostats and sealants, Baxter is focused on continually identifying solutions to help meet surgeons’ varying needs. We are excited about the addition of Recothrom to help surgeons address less severe intraoperative bleeding and Preveleak to complement Baxter’s existing portfolio of sealants for cardiovascular and other surgical specialties,” Baxter advanced surgery prez Wil Boren said in a prepared statement. Sales of both products totaled approximately $56 million during the 12 months preceding September 29, 2017, and Baxter said it expects the deal to be modestly accretive to its 2018 adjus...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Surgical Baxter Mallinckrodt Source Type: news