CHESTERFIELD, United Kingdom, Aug. 18, 2016 /PRNewswire/ -- Mallinckrodt plc (NYSE: MNK), a leading global specialty pharmaceutical company, announced today it will build out a new campus for its fast-growing Specialty Brands organizations in the Somerset Financial Center, 1405-1425 Route 206, in Bedminster. Mallinckrodt will invest greater than $80 million in New Jersey, and anticipates approximately 400 employees will occupy the new space in the first quarter of 2017.
The company is also continuing its investment in St. Louis, Mo., having recently begun the next phase of construction at its downtown St. Louis manufacturing facility – part of the more than $140 million in capital projects and related expenses it has invested in offices and plant locations that house Mallinckrodt's legacy businesses and key administrative functions in the area.
Having acquired multiple companies in 18 months, by late 2015, Mallinckrodt found itself with commercial and development operations spread across more than a dozen U.S. sites. The Bedminster, N.J. campus will consolidate operations for its Specialty Brands groups, co-locating more than 400 commercial and science employees focused on marketed and development products in its autoimmune and rare diseases and hospital businesses – growth platforms the company continues to build on as indicated by its recently announced acquisition.
"As we began to transform Mallinckrodt into a specialty pharmaceutical organization, we acquired a base of established operations on the East Coast," said Mark Trudeau, President and Chief Executive Officer of Mallinckrodt. "With this base, and recognizing the important concentration of specialty pharmaceutical talent and intellectual capital in the area, we believe consolidating our Specialty Brands organizations in New Jersey provides compelling value. We believe the state will be a great business destination for the company."
"Bedminster is an excellent setting for Mallinckrodt," Trudeau continued, "allowing us to design a work space that will meet the needs of our dynamic, fast-growing business, while providing an exceptional working environment to support collaboration among our employees."
"I'm pleased to welcome Mallinckrodt to Bedminster and look forward to future collaboration with the company as they build their Specialty Brands business here in the Garden State," said New Jersey Lt. Governor Kim Guadagno. "New Jersey provides a favorable environment for the growth of pharmaceutical companies given the wide range of business incentives we offer and our highly skilled and educated workforce."
As also noted, Mallinckrodt continues to reinvest in St. Louis, where the company's roots date back nearly 150 years. Recent investment includes the commitment of more than $8 million for expansion of its downtown St. Louis manufacturing facility, as well as a $12 million site addition opened in mid-2015 to increase manufacturing efficiency.
"For decades, Mallinckrodt has proudly maintained a significant presence in St. Louis, where many of us continue to live and work," said Trudeau, "and we're excited to reinforce that presence in this region with continued reinvestment."
Individuals interested in exploring an open career opportunity at Mallinckrodt's New Jersey facility should visit www.mallinckrodtnortheastjobs.com. Open positions with the company more broadly are available at www.mallinckrodt.com.
ABOUT MALLINCKRODT
Mallinckrodt is a global business that develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products and therapies, as well as nuclear imaging products. Areas of focus include autoimmune and rare diseases in specialty areas like neurology, rheumatology, nephrology, pulmonology and ophthalmology; immunotherapy and neonatal respiratory critical care therapies; analgesics and hemostasis products; and central nervous system drugs. The company's core strengths include the acquisition and management of highly regulated raw materials, and specialized chemistry, formulation and manufacturing capabilities. The company's Specialty Brands segment includes branded medicines; its Specialty Generics segment includes specialty generic drugs, active pharmaceutical ingredients and external manufacturing; and the Nuclear Imaging segment includes nuclear imaging agents. To learn more about Mallinckrodt, visit www.mallinckrodt.com.
Mallinckrodt uses its website as a channel of distribution of important company information, such as press releases, investor presentations and other financial information. It also uses its website to expedite public access to time-critical information regarding the company in advance of or in lieu of distributing a press release or a filing with the U.S. Securities and Exchange Commission disclosing the same information. Therefore, investors should look to the Investor Relations page of the website for important and time-critical information. Visitors to the website can also register to receive automatic e-mail and other notifications alerting them when new information is made available on the Investor Relations page of the website.
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SOURCE Mallinckrodt plc
