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Mallinckrodt suspends plans to spin off generics unit

Credit: REUTERS/George Frey

Mallinckrodt Plc said on Tuesday it has suspended plans to spin off its specialty generics business, citing uncertainties tied to the opioid litigation and current market conditions.

Aug 6 (Reuters) - Mallinckrodt Plc MNK.N said on Tuesday it has suspended plans to spin off its specialty generics business, citing uncertainties tied to the opioid litigation and current market conditions.

The company had previously said it would spin off the unit and that it planned to retain its constipation medicine Amitiza as part of its specialty branded drugs business.

Mallinckrodt said on Tuesday it would continue to consider a "range of options" to ultimately separate the business, consistent with its previously stated strategy.

(Reporting by Tamara Mathias in Bengaluru; Editing by Sriraj Kalluvila)

((Tamara.Mathias@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 1208;))

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