In an effort to expand and diversify their branded pharmaceuticals portfolios, Endo and Mallinckrodt have agreed to merge in a deal valued at US$6.7 B. Mallinckrodt and Endo plan to combine their sterile injectables and generics businesses before spinning them off into a separate, standalone company. Mallinckrodt will remain the holding company for the combined business, and Endo will become a wholly owned subsidiary of Mallinckrodt with 49.9% stake in the combined entity, while Mallinckrodt shareholders will retain control with a 50.1% ownership.