Covidien Unit To Buy Specialty Drug Co. For $100M

Law360, New York (September 24, 2012, 6:39 PM EDT) -- Covidien PLC unit Mallinckrodt LLC on Monday announced plans to take on privately held specialty pharmaceutical company CNS Therapeutics Inc. for $100 million.

Mallinckrodt, the St. Louis-based unit that will spin off from Covidien sometime next year, will buy all of CNS’ outstanding capital stock and expects the deal to close in the fourth quarter of 2012.

St. Paul, Minn.-based CNS develops and commercializes products for site-specific administration to the central nervous system to treat neurological disorders and intractable chronic pain, according to Mallinckrodt. The company...
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