Mallinckrodt Now A Component Of The S&P 500 Index
8/19/2014 9:17:00 AM
DUBLIN--(BUSINESS WIRE)--Mallinckrodt plc (NYSE: MNK), a leading global specialty pharmaceutical company, announced today that it has become a component of the S&P 500 Index. The inclusion comes following the completion of Mallinckrodt’s acquisition of Questcor Pharmaceuticals last week. In addition to increasing the market capitalization of Mallinckrodt, the combination has significantly strengthened the company’s balance sheet, cash generation and leverage position.
“We are extremely honored to be listed on the S&P 500 Index, which comprises companies with some of the most recognizable and enduring brands in the world,” said Matthew Harbaugh, Mallinckrodt’s Chief Financial Officer. “The index is widely recognized as a bellwether of the American equities market. We are also pleased to have significantly improved the net leverage profile of the company from where it was just a few short months ago. This event marks yet another milestone toward our long-term goal of becoming a top-performing specialty pharmaceutical company.”
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