Mallinckrodt, the pharmaceuticals business of Covidien, has entered a definitive agreement to acquire CNS Therapeutics, Inc., a privately held specialty pharmaceutical company based in St. Paul, MN, for approximately $100 million. CNS focuses on developing and commercializing products for site-specific administration to the central nervous system to treat neurological disorders and intractable chronic pain. CNS currently has one marketed product and a diverse pipeline of pain and spasticity products in development.
 
“This acquisition supports our strategy of leveraging our therapeutic expertise and our core capabilities in manufacturing, regulatory and commercialization to serve patients,” said Mark Trudeau, president, Pharmaceuticals. “CNS Therapeutics’ marketed product line complements our branded portfolio. Their central nervous system and pain management products in development complement our pipeline and address an important need for patients.”
 
The transaction, subject to customary closing conditions, is expected to close during 4Q12.