Irish pharmaceutical giant Mallinckrodt Pharmaceuticals said it will pay $5.6 billion in cash and stock for a fast-growing Anaheim bio-pharmaceutical firm that specializes in treating multiple sclerosis, the companies announced Monday.
The deal for Questcor Pharmaceuticals Inc. would give Mallinckrodt drugs that primarily treat chronic autoimmune and inflammatory disorders. Questcor's Acthar Gel, used in the treatment of multiple sclerosis, accounts for most of the company's sales.
The proposed Questcor acquisition would be the second large purchase Mallinckrodt makes in Southern California this year.
In February, Mallinckrodt agreed to pay about $1.4 billion for Cadence...