Irish firm Mallinckrodt agreed to pay approximately $5.6 billion to acquire Questcor Pharmaceuticals as part of a strategy to strengthen its presence in the specialty-drugs market. The deal will give Mallinckrodt rights to Questcor's chronic autoimmune and inflammatory drugs including Acthar Gel, which is approved in the U.S. for 19 conditions including multiple sclerosis and is expected to generate $1.9 billion in sales in 2018. The acquisition "will substantially increase the scale, diversification, cash flow and profitability of our business," Mallinckrodt CEO Mark Trudeau said.

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