Mallinckrodt completed the spin-off of Par Health.

Mallinckrodt, a global specialty pharmaceutical company, completed the spin-off of Par Health to create an independent generic pharmaceuticals and sterile injectables company committed to delivering proven medicines in moments of need without compromise. Financial terms were not disclosed. Moving ahead, Mallinckrodt will be known as Keenova Therapeutics and will focus on developing, manufacturing, and commercializing branded therapeutics.