January 8, 2018 / 12:51 PM / 15 days ago

BRIEF-Mallinckrodt Will Sell Recothrom, Preveleak To Baxter for $185 Mln

Jan 8 (Reuters) - Mallinckrodt Plc

* MALLINCKRODT WILL SELL RECOTHROM® AND PREVELEAK® TO BAXTER

* MALLINCKRODT - TOTAL DEAL CONSIDERATION OF $185 MILLION, WITH $153 MILLION UPFRONT, INCLUDING EXISTING INVENTORY, REMAINDER IN POTENTIAL MILESTONE PAYMENTS

* MALLINCKRODT PLC - WILL RETAIN RAPLIXA FOR TOPICAL USE AND IS EVALUATING STRATEGIC OPTIONS FOR THIS PRODUCT

* MALLINCKRODT - ‍ SALE IS ANTICIPATED TO DILUTE CO‘S ADJUSTED EARNINGS PER SHARE BY $0.10 TO $0.15 IN 2018, WHICH WILL BE OFFSET BY SHARES REPURCHASED DURING Q4 2017​

* MALLINCKRODT PLC - COMPANY WILL DISCONTINUE MARKETING OF RAPLIXA UPON CLOSE OF BAXTER TRANSACTION

* MALLINCKRODT PLC - PROCEEDS FROM SALE WILL BE USED BY COMPANY TOWARD PAYING DOWN DEBT

* MALLINCKRODT PLC - ‍WRITE-OFF FOR RAPLIXA​ WILL BE REPORTED FOR Q4 2017 Source text for Eikon: Further company coverage:

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