Mallinckrodt, a specialty biopharmaceutical company, completed the acquisition of Ikaria, a fully-integrated biotherapeutics company focused on developing and commercializing innovative therapeutics designed to meet the significant unmet medical needs of critically ill patients, for $2.3bn. "This latest transaction continues the rapid transformation of Mallinckrodt into a leading specialty biopharmaceutical company and demonstrates our ongoing commitment to driving revenue and earnings growth for shareholders and delivering value for patients. In the last 20 months we've not only grown quickly, but we've substantially shifted our business focus and created rich new specialty pharmaceutical growth platforms for the future," Mark Trudeau, Mallinckrodt President and CEO.