Mallinckrodt moves toward separation from Covidien

02/5/2013 | American City Business Journals

Covidien unit Mallinckrodt has filed documents with the Securities and Exchange Commission that put it closer to becoming its own company. The split is set to be finalized by the middle of the year. "As independent, publicly owned companies, Covidien and Mallinckrodt each will be able to pursue and focus on its own strategic and operational plans, including setting an optimal level of investment in research and development projects and in the operation and expansion of its businesses and creating a business-appropriate capital structure," said Jose Almeida, Covidien's president, chairman and CEO.

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