January 14, 2019
Mallinckrodt confirmed today that it is one of a dozen pharmaceutical manufacturers to receive a request for information from Representative Elijah Cummings (D-Md.), Chairman of the U.S. House of Representatives Committee on Oversight and Reform. The company will cooperate with the inquiry.
The inquiry relates to H.P. Acthar® Gel (repository corticotropin injection).
Since acquiring H.P. Acthar Gel in late 2014, Mallinckrodt has invested more than $500 million in modernizing this important therapy for appropriate patients. In accordance with Mallinckrodt's pledge on drug pricing and innovation any price adjustments to the product have been limited to the mid-single digit percentage range, and the company has taken no price action for Acthar in 2019. Mallinckrodt provides discounts to this list price to payers, which the prior owner generally did not offer.
Over the last several years, Mallinckrodt proactively embarked upon a multi-year, multi-million dollar endeavor to update and strengthen the foundational scientific rationale of H.P. Acthar Gel based on modern clinical science and practice, product presentation and manufacturing processes. These investments include seven company-sponsored clinical trials targeting 1,100 patients and nearly three dozen health economic outcomes research studies. To learn more on Mallinckrodt's investment in and commitment to H.P. Acthar Gel, click here.
Mallinckrodt is a global business that develops, manufactures, markets and distributes specialty pharmaceutical products and therapies. 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 gastrointestinal products. To learn more about Mallinckrodt, visit www.mallinckrodt.com.
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Daniel J. Speciale, CPA
Investor Relations and Strategy Officer
Vice President, Government Affairs
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