SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
December 16, 1996
Mallinckrodt Inc.
(Exact name of registrant as specified in its charter)
New York 1-483 36-1263901
State or other jurisdiction (Commission (I.R.S.Employer
of incorporation) File Number) Identification No.)
7733 Forsyth Boulevard, St. Louis, MO 63105-1820
(Address of principal executive offices) (ZIP Code)
Registrant's telephone number, (314)854-5200
including area code
<PAGE>
Item 5. Other Events
A press release was issued December 16, 1996. The relevant portion
of that release was as follows:
(*)Indicates registered trademark
MOLECULAR BIOSYSTEMS, MALLINCKRODT
EXPAND PARTNERSHIP FOR MARKETING OF FS069
ST. LOUIS, Mo., and San Diego, Calif., December 16, 1996 -- Molecular
Biosystems, Inc. (NYSE:MB) and Mallinckrodt Inc. (NYSE:MKG) today
jointly announced that Mallinckrodt's sales and marketing rights for
FS069 have been expanded to include Europe, Africa, India and Russia.
FS069 is MBI's second-generation ultrasound imaging agent. It is
designed to enhance ultrasound imaging by enabling physicians to
visualize blood flow and enhance resolution of anatomical structures
in those patients with suboptimal non-contrast ultrasound
examinations.
The companies anticipate filing for European market clearance
for FS069 in early 1997. MBI and Mallinckrodt announced in October
that a pre-marketing approval application for FS069 has been
submitted to the U. S. Food and Drug Administration. Mallinckrodt
already holds extensive marketing rights for FS069 and for ALBUNEX*,
an MBI product that is the first ultrasound imaging agent to be
cleared for marketing in the United States. The new agreement also
covers future ultrasound contrast agents that Molecular Biosystems
has in development.
In exchange for the expanded marketing rights, Mallinckrodt will
pay fees of up to $12.9 million plus 40 percent of product sales to
cover royalties and manufacturing. Of the amount, $7.1 million is
payable within 30 days, with the remainder contingent upon certain
milestones being met. The fees are considered incremental to
agreements already in place between the two companies. Under these
agreements, Mallinckrodt has marketing rights for ALBUNEX* and FS069
in all parts of the world except Japan, South Korea and Taiwan.
Molecular Biosystems has not yet assigned its recently reacquired
marketing rights for the products in these territories.
"All of us at Mallinckrodt are delighted that we can extend our
partnership with Molecular Biosystems in this way," said James C.
Carlile, president of Mallinckrodt's Medical Imaging Division.
Products like FS069 and ALBUNEX* are critical elements of our
portfolio and help keep us a leader in the field of contrast media."
Kenneth J. Widder, M. D., Molecular Biosystems' chairman and
chief executive officer, said, "Mallinckrodt is a major player in the
European contrast media market. This expanded partnership validates
the commercial value of FS069 as well as securing a partner with
proven marketing prowess in these territories. We can now focus on
building a global franchise for FS069. The companies are currently
involved in additional clinical studies for FS069, including
myocardial perfusion and radiology imaging trials."
Molecular Biosystems, Inc., based in San Diego, Calif., is a
leader in the development of ultrasound contrast agents for medical
imaging. Its shares are listed on the New York Stock Exchange under
the symbol "MB."
Mallinckrodt is an international growth company serving
specialty markets in human healthcare and chemicals. Dedicated to
improving healthcare and chemistry, the company is a major producer
of diagnostic imaging agents, medical devices, analgesic
pharmaceuticals, catalysts, and laboratory and microelectronic
chemicals. The St. Louis, Missouri-based company, with fiscal 1996
net sales of $2.2 billion, sells more than 2,000 products in more
than 100 countries. Mallinckrodt employs about 10,400 people
worldwide. The Mallinckrodt web site address is
<www.mallinckrodt.com>.
# # #
Mallinckrodt Inc.
ROGER A. KELLER
Vice President, Secretary
and General Counsel
DATE: December 20, 1996
