Mallinckrodt Pharma, Endo Reach Deal for $6.7 Billion Merger (1)

Mallinckrodt Pharmaceuticalsand Endo Inc. plan to merge and create a $6.7 billion company in a move that will cut costs and broaden access to patients and new treatments.

The agreement will give each company’s investors roughly 50% ownership of the combined entity, which will be listed on the New York Stock Exchange, Mallinckrodt and Endo said Thursday in a joint statement, confirming an earlier report by Bloomberg News.

Both drugmakers — previously active acquirers in the heyday of large specialty pharmaceutical deals — have emerged from bankruptcies and faced litigation tied to the US opioid crisis in recent ...