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Active-Investors: Blog Exposure - Baxter International Acquires RECOTHROM and PREVELEAK from Mallinckrodt

Stock Monitor: Mallinckrodt Post Earnings Reporting

LONDON, UK / ACCESSWIRE / January 10, 2018 / Active-Investors.com has just released a free research report on Baxter International Inc. (NYSE: BAX). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=BAX as the Company's latest news hit the wire. On January 08, 2018, the Company announced that it has a signed an agreement with Mallinckrodt PLC (NYSE: MNK) to acquire two of its hemostat and sealant products - RECOTHROM Thrombin topical (Recombinant) and PREVELEAK Surgical Sealant. The acquisitions are aimed at expanding its portfolio of surgical products and solutions, especially for intraoperative bleeding. Register today and get access to over 1000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Baxter International and Mallinckkrodt most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/'symbol=BAX

www.active-investors.com/registration-sg/'symbol=MNK

Details of the deal

Baxter has agreed to pay a total of $185 million for both RECOTHROM and PREVELEAK. Out of this approximately $153 million will be paid upfront and balance will be paid as contingent payments in the future on reaching pre-agreed milestones. The transaction includes the current inventories of the products. The transaction is expected to be completed in H1 2018 and is subject to regulatory approvals and other closing conditions. Baxter expects the acquisitions to be modestly accretive to its adjusted earnings for FY18 and increasingly accretive in future.

For Mallinckrodt the deal is expected to dilute its adjusted diluted EPS in FY18 by $0.10 to $0.15. The Company plans to pay off its debts using funds from this sale. The Company has clarified that its product RAPLIXA® (Fibrin sealant (human)) for topical use is not part of this transaction and that it is exploring strategic options for the sale of this product. It plans to discontinue sale of this product on completion of the transaction with Baxter. Mallinckrodt has sold off these products to focus on its portfolio in the critical care, autoimmune and rare disease segments with the aim of becoming a top-performing specialty pharmaceutical company.

Management comments

Commenting on the new acquisitions, Wil Boren, President of Baxter's Advanced Surgery business, said:

"We are excited about the addition of RECOTHROM to help surgeons address less severe intraoperative bleeding and PREVELEAK to complement Baxter's existing portfolio of sealants for cardiovascular and other surgical specialties."

Mark Trudeau, President and CEO of Mallinckrodt, added:

"When products become non-core, or can potentially better flourish in the hands of others, we will divest them - freeing us to acquire and focus on products more closely aligned with our long-range strategic growth goals."

About RECOTHROM and PREVELEAK

Mallinckrodt's RECOTHROM Thrombin topical (Recombinant) is the first and only stand-alone recombinant thrombin. Thrombin is a proven blood coagulation agent - used on its own or in combination with other hemostats (agents that helps stop bleeding). It is estimated that Thrombin has been used by surgeons in US in more than one million patients annually to address intraoperative bleeding. used in more than one million patients per year in the United States to help surgeons address intraoperative bleeding. The key feature of RECOTHROM is that it is the only topical hemostat from recombinant DNA origin approved in the United States and Canada and can be used in pediatric and adult patients with or without antibodies to bovine-derived thrombin.

The second product PREVELEAK is a surgical sealant used in vascular reconstruction. It is designed to seal suture holes formed during surgical repair of the circulatory system and to reinforce sutured connections between blood vessels. This product is an addition to Baxter's portfolio of complementary hemostats, sealants and tissue products used in cardiovascular and other surgeries. It is an additional product which allows surgeons to address patients' varying needs during surgeries. PREVELEAK is approved in the United States and European Union.

The combined sales of both the products was approximately $56 million for the twelve months period ending on September 29, 2017.

About Baxter International Inc.

Deerfield, Illinois-based Baxter was founded in 1931 and provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis, sterile IV solutions, infusion systems and devices, parenteral nutrition, surgery products and anaesthetics, and pharmacy automation, software and services. The Company has a global presence which allows it to play a significant role in driving access to cost-effective care. The Company has two main global business units: Hospital Products and Renal. Hospital Products business manufactures products used in the delivery of fluids and drugs to patients across the continuum of care. Baxter's Renal business segment addresses the needs of patients with kidney failure or kidney disease, and their healthcare providers.

The Company has presence in over 100 countries across the globe including North America, Latin America, Europe, Middle-East, Africa, and Asia/Pacific regions. It also has research, collaborations, and partnerships around the world.

About Baxter's Surgery Portfolio

Baxter's portfolio of surgical products and services includes hemostats (helping surgeons address bleeding), surgical sealants, tissue regeneration, bone-graft substitutes, wound and tissue management, microsurgery, etc. The Company's surgical products and services are available in nearly 60 countries and provide surgeons and hospitals with innovative products that improve patient outcomes, are convenient to use and are cost-effective. Some of the leading brands under this segment includes FLOSEAL Hemostatic Matrix, TISSEEL Fibrin Sealant, COSEAL Surgical Sealant, and VASCU-GUARD Patch, etc.

About Mallinckrodt Pharmaceuticals PLC

Founded in 1867, in St. Louis, Missouri, Mallinckrodt is a global specialty pharmaceutical company that develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies. Its global headquarters are at Staines-Upon-Thames, UK and it is focused on providing medicines to address unmet patient needs in areas such as autoimmune and rare diseases, immunotherapy and neonatal respiratory critical care therapies, analgesics and hemostasis.

Mallinckrodt's business is divided into two divisions - Specialty Brands and Specialty Generics segments. The Specialty Brands segment includes branded medicines while its Specialty Generics segment includes specialty generic drugs, active pharmaceutical ingredients, and external manufacturing.

Stock Performance Snapshot

January 09, 2018 - At Tuesday's closing bell, Baxter International's stock was slightly up 0.14%, ending the trading session at $69.38.

Volume traded for the day: 3.14 million shares, which was above the 3-month average volume of 2.66 million shares.

Stock performance in the last month - up 9.23%; previous three-month period - up 12.90%; past twelve-month period - up 50.27%; and year-to-date - up 7.33%

After yesterday's close, Baxter International's market cap was at $37.81 billion.

Price to Earnings (P/E) ratio was at 37.42.

The stock has a dividend yield of 0.92%.

The stock is part of the Healthcare sector, categorized under the Medical Instruments & Supplies industry. This sector was up 0.9% at the end of the session.

Active-Investors:

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A-I has not been compensated; directly or indirectly; for producing or publishing this document.

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The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

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SOURCE: Active-Investors

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