Mallinckrodt Plc is exploring a sale of its generic drug unit, in a deal that could fetch as much as $2 billion and help pivot the specialty pharmaceutical maker toward higher-margin branded drugs, according to people familiar with the matter.
The divestment would complete the company’s gradual shift away from its original focus on generic drugs and nuclear imaging toward branded specialty pharmaceuticals, which now comprise the bulk of its revenues.
Mallinckrodt, based in Staines-Upon-Thames, England, has hired investment bank Credit Suisse Group AG (CSGN.S) to run a sale process for the unit, the people said on Tuesday, asking not to be named because the deliberations are private.
