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Mallinckrodt to Buy Immunotherapy Firm Therakos

Dublin-based Mallinckrodt, which was spun off from Covidien PLC in 2013, said the purchase is a move to grow its hospital business within its specialty brands portfolio. The company, like many others in the space, has sought to grow through acquisitions. Recent acquisitions include privately held Ikaria Inc. for about $2.3 billion, Questcor Pharmaceuticals Inc. for $5.8 billion and Cadence Pharmaceuticals Inc. for $1.3 billion.

Those deals have fueled sales, particularly...