Decision allows company, sales team to focus on current and future products
Mallinckrodt Pharmaceuticals and Zogenix to End Co-Promotion Agreement
MallinckrodtLynn Phillips, 314-654-3263Manager, Media RelationsorMeredith Fischer, 314-654-3318Senior Vice President, CommunicationsorJohn Moten, 314-654-6650Vice President, Investor Relations
(NYSE: MNK) today announced a mutually-agreed upon end of the company’s co-promotion agreement with Zogenix (NASDAQ: ZGNX). The co-promotion agreement covered SUMAVEL DosePro (sumatriptan injection), a prescription medicine given with a needle-free delivery system to treat adults who have been diagnosed with acute migraine or cluster headaches. Mallinckrodt’s promotion of SUMAVEL DosePro will end January 31, 2014.
“The end of our co-promotion agreement with Zogenix will allow our field sales team to focus on promoting our current and future products in the pain space,” said Mark Trudeau, Chief Executive Officer and President, Mallinckrodt. “We have enjoyed a successful collaboration with Zogenix and wish them continued success with their products.”
Mallinckrodt and Zogenix entered into the co-promotion agreement June 7, 2012. Under terms of the agreement, Mallinckrodt’s U.S. sales force sold SUMAVEL DosePro to its customer base of prescribers. Zogenix continued to record all product revenues and Mallinckrodt was compensated based on a percentage of net sales from prescriptions generated by Mallinckrodt. The original agreement was to have run through June 30, 2014.
Mallinckrodt is a global specialty pharmaceutical business that develops, manufactures, markets and distributes specialty pharmaceutical products and medical imaging agents. The company’s Specialty Pharmaceuticals segment includes branded and generic drugs and active pharmaceutical ingredients, and the Global Medical Imaging segment includes contrast media and nuclear imaging agents. Mallinckrodt has approximately 5,500 employees worldwide and commercial presence in roughly 70 countries. The company’s fiscal 2013 revenue totaled $2.2 billion. To learn more about Mallinckrodt, visit .