Shedding non-core units while loading up on cash, Mallinckrodt bags $250M in CDMO sale

Mallinckrodt may not be spinning off its specialty generics business any time soon, but the UK drugmaker is seizing every chance to shed subsidiaries that don’t belong in the branded drug company it’s keen to consolidate into.

In a $250 million deal, Mallinckrodt is selling BioVectra, a contract development and manufacturing organization in Canada, to the private equity firm HIG Capital.