MALLINCKRODT PHARMACEUTICALS (NYSE: MNK)
Mallinckrodt processes opium to isolate medical grades of morphine, etc. It also is a leading manufacturer of acetaminophen, the active ingredient in Tylenol. The company also supplies x-ray contrast agents and related imaging materials and generic drugs especially those containing hydrocodone. Headquartered Dublin, Ireland.
Mallinckrodt dates from 1840 when Emil Mallinckrodt settled on a farm near St. Louis, MO. The company was founded by his sons in 1867. It was the only chemical company West of Philadelphia. Early on the company specialized in photographic chemicals and became an early producer of anhydrous ammonia for commercial refrigeration equipment. Production of morphine and codeine began in 1898. Barium sulfate was the first x-ray contrast agent (1913) and high purity ether for anesthesia followed (1914). Uranium processing for the Manhattan Project began in 1942. As time went on, control gradually passed to universities through family trusts. The company was sold to Avon (1982), to International Minerals & Chemical (1986), Tyco (2000), Covidien (2007), and finally back to Mallinckrodt (2013).
Book: “Mallinckrodt 125th Year Anniversary: Quality, Integrity, Service,” by Raymond F. Benetele, Mallinckrodt, Inc., St. Louis, MO, 1992. See the book review at on Motley Fools Books -- Non-fiction discussion board: http://boards.fool.com/8220mallinckrodt-125th-year-anniversary-qual-29230273.aspx