Mallinckrodt plans to spin off specialty generics business

(Reuters) – Drugmaker Mallinckrodt Plc (MNK.N) said on Thursday it planned to spin off its specialty generics business to shareholders by the second half of 2019.

One of the two publicly traded companies will hold Mallinckrodt’s specialty generics business and its constipation drug Amitiza, while the other will focus on specialty pharmaceutical brands, the company said.

Reporting by Tamara Mathias in Bengaluru; Editing by Sriraj Kalluvila