Aurobindo pharma likely to clinch Mallinckrodt deal for $800 mn this July

Street is cautious as Mallinckrodt biz is declining amid enhanced scrutiny on opioid drugs

Even as Hyderabad-based drug major Aurobindo Pharma is gearing up to acquire UK-based Mallinckrodt's speciality generics business in the US for an estimated $800 million (one of the largest outbound buys by a homegrown pharma firm), the street is cautious as it is a declining business, and lot depends on Aurobindo's ability to turn it around.

The homegrown drug major has already approached bankers to raise debt to clinch the deal which is likely to be signed within this month, said sources close to the development. An email sent to Aurobindo, however, did not receive any immediate response. The company's