- Mallinckrodt has completed the spinoff of its Par Health generics and sterile injectables units and will now operate under the new name Keenova Therapeutics.
- The rebranded company will focus on developing and commercialising branded therapies for rare and under-addressed medical conditions.
Mallinckrodt, headquartered in Dublin, Ireland, has completed the planned spinoff of its Par Health generic pharmaceuticals and sterile injectables businesses. Following the separation, the company will operate under the new name Keenova Therapeutics, concentrating on the development, manufacturing, and commercialisation of branded therapies for rare and unaddressed medical conditions.
“The new name reflects the company’s mission and values. The name ‘Keenova’ reflects two complementary attributes of our company — a keen focus on helping patients receive the care they deserve and the innovation required to develop our therapeutics.”
Siggi Olafsson, Chief Executive Officer of Keenova Therapeutics
Formed from the branded businesses of Mallinckrodt and Endo, which merged in July 2025, Keenova reported 2024 pro forma combined revenue of $1.7 billion and employs more than 1,600 people. The company’s global headquarters remain in Dublin, with a strong U.S. commercial and manufacturing presence.
Keenova’s current portfolio includes Acthar Gel, a corticotropin therapy for chronic or acute inflammatory and autoimmune conditions, and XIAFLEX, a biologic injectable used to treat Dupuytren’s contracture and Peyronie’s disease.
The company plans to broaden its pipeline across multiple therapeutic areas, including rheumatology, ophthalmology, nephrology, pulmonology, neurology, urology, and orthopaedics, as it positions itself to advance treatments for rare and underserved patient populations.
