Tomahawk, WI 08/26/2014 (Basicsmedia) – Mallinckrodt PLC (NYSE:MNK) has maintained a consistent upward trend in the pharmaceutical space according to CNBC’s, Jim Cramer, since going public, as a result of a number of acquisitions that have allowed it to focus on laser-like growth after being spun-off from the parent company, Covidien plc (NYSE:COV).

Operating as an independent company, a number of acquisitions according to Cramer have played a key role in allowing the company to grow by up to 71% since going public. Cramer remains bullish on Mallinckrodt PLC (NYSE:MNK) on the fact that the company is based’ in Dublin, meaning it enjoys low tax regime as opposed to being headquartered in the U.S.

“Even though Mallinckrodt PLC (NYSE:MNK) has since had a monster run, up more than 71%, quietly since the spin-off. I think it could have had a lot upside in part because this company can keep snapping other drug businesses to become a Pharma colossi as it just did with two major acquisitions including a deal to buy drug-maker Questcor that just closed,” said Mr. Cramer.

CEO, Mark Trudeau, in an interview with Cramer, acknowledged the fact that having an Ireland domicile has worked to the company’s advantage since 2009, with its stock currently trading at the $74.50 mark. Focusing on shareholder value remains the main goal for Mallinckrodt according to Trudeau thus the push for acquisitions as well as maintaining base in Ireland.

“What we are primarily focused’ on are things that fit well with what we are doing strategically and again create shareholder value. Essentially, some of the things we are doing internally and we think the acquisitions we have done with both Questcor and Cadence has demonstrated that value,” said Mr. Trudeau.

The acquisition of Questcor pharmaceutical also came with pain reliever, HP Acthar, which Mallinckrodt PLC (NYSE:MNK) has grown to become the number one pain drug in the world according to the CEO. The drug has also expanded Mallinckrodt platform in hospital channels as well as specialty areas of neurology, pulmonology and rheumatology where the company expects to draw future growth.

The acquisition of HP Acthar also came with its fair share controversy as the drug was believed not to have the potential of turning out to be a worthy investment with huge reimbursement capabilities.

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