Covidien Announces Continued Relationship with NYSE Euronext
Spin-off Mallinckrodt plc Will Apply for NYSE Listing
DUBLIN -- February 5, 2013
Covidien (NYSE: COV), a leading global provider of healthcare products, today
announced that Mallinckrodt plc intends to apply to list its ordinary shares
on the New York Stock Exchange (NYSE) to trade under the symbol MNK.
As previously announced, Covidien plans to spin off its Pharmaceuticals
business into Mallinckrodt, a stand-alone company, a process expected to be
completed in mid-2013.
“We are very pleased to continue our relationship with the NYSE and look
forward to enhancing our brand image in conjunction with NYSE Euronext,” said
José E. Almeida, Chairman, President and CEO. “After a careful review, we
decided that Mallinckrodt should be listed on the NYSE. We recognize the value
of their deep community, unique visibility opportunities and innovative market
structure, and believe it is in the best interest of both companies to be
aligned with the NYSE. We look forward to continuing our strong and long
engagement with the world’s leading global exchange.”
“This represents another important milestone for Mallinckrodt,” said Mark
Trudeau, President, Pharmaceuticals. “As we move closer to becoming an
independent, publicly traded company, we look forward to working with NYSE
Euronext and to the many mutual benefits that this partnership will provide.”
“We are delighted to be expanding our relationship with Covidien, an
outstanding leader in the healthcare product space, and to be welcoming
Mallinckrodt back into our community of world-class listed companies,” said
Lawrence Leibowitz, Chief Operating Officer, NYSE Euronext. “We look forward
to providing the highest levels of market quality and service, and to
continuing our partnership with both companies and their shareholders in the
Covidien is a leading global healthcare products company that creates
innovative medical solutions for better patient outcomes and delivers value
through clinical leadership and excellence. Covidien manufactures, distributes
and services a diverse range of industry-leading product lines in three
segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2012
revenue of $11.9 billion, Covidien has 43,000 employees worldwide in 70
countries, and its products are sold in over 140 countries. Please visit
www.covidien.com to learn more about our business.
Mallinckrodt, the pharmaceuticals business of Covidien, is a vertically
integrated leader in providing products used in diagnostic procedures and in
the treatment of pain and related conditions. The company is the largest U.S.
supplier, by prescription, of opioid pain medications and a leading
manufacturer of active pharmaceutical ingredients. It is also the largest U.S.
supplier of the medical isotope technetium-99m and an industry leader in
radiopharmaceuticals and contrast media and delivery systems. Sales in 2012
were $2.0 billion. Please visit www.mallinckrodt.com to learn more about our
Bruce Farmer, 508-452-4372
Coleman Lannum, CFA, 508-452-4343
Todd Carpenter, 508-452-4363
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