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Mallinckrodt Completes Acquisition Of Questcor Pharmaceuticals
Date:8/14/2014

DUBLIN, Aug. 14, 2014 /PRNewswire/ -- Mallinckrodt plc (NYSE: MNK), a leading global specialty pharmaceutical company, today announced that it has completed its acquisition of Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) in a cash and stock transaction valued at approximately $5.8 billion. The acquisition is expected to be immediately accretive to Mallinckrodt's fiscal 2014 adjusted diluted earnings per share and significantly accretive to its adjusted diluted earnings per share in fiscal 2015.

The merger follows strong approval by both Mallinckrodt and Questcor shareholders at separate special meetings held today. Under the terms of the merger agreement, Questcor shareholders will receive $30.00 in cash and 0.897 of a Mallinckrodt ordinary share for each Questcor share.

"We are pleased to complete this transformative transaction and believe it will provide a strong, durable, well-diversified and sustainable platform, capable of generating significant future revenue and earnings growth for Mallinckrodt shareholders," said Mark Trudeau, President and Chief Executive Officer of Mallinckrodt. "HP Acthar® Gel has demonstrated success in treating patients suffering from a variety of devastating and difficult-to-treat autoimmune and inflammatory illnesses. We are confident that Acthar will be a strong complement to Mallinckrodt's broadening portfolio of leading specialty pharmaceutical brands, and we look forward to leveraging our extensive manufacturing and scientific expertise, as well as our experience with advocacy and payer communities, to capitalize on the many opportunities it presents."

Mr. Trudeau added, "We are very pleased to welcome the Questcor team to Mallinckrodt. We are excited about our future
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SOURCE Mallinckrodt plc
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