Covidien and Babcock & Wilcox Discontinue Joint Venture

October 16, 2012

Covidien and Babcock & Wilcox Discontinue Joint Venture

On Monday, October 15, 2012, Covidien and Babcock & Wilcox Technical Services Group (B&W), announced that they are discontinuing their joint venture towards the develop of solutions-based reactor technology for medical isotope production.  This decision was reached after learning that the time and cost involved with the project would be greater than originally expected.

Please find the letter from Mallinckrodt, the Pharmaceuticals business of Covidien, below.

Covidien and B&W Letter