Keenova

What Keenova does

Keenova Therapeutics is a specialty pharmaceutical company formed in November 2025 through the $6.7 billion merger of Mallinckrodt and Endo, creating a combined entity focused on rare and underserved conditions. Headquartered in Blanchardstown, Dublin, Ireland, with significant U.S. operations in Malvern, Pennsylvania, Keenova operates across five therapeutic areas: Immunology, Urology & Men's Health, Orthopedics, Critical Care, and Pediatric Endocrinology. The company employs between 1,001 and 5,000 people and is currently private, with plans to list on the NYSE in the second half of 2026.

The product portfolio centers on established specialty brands: XIAFLEX (collagenase clostridium histolyticum) for Dupuytren's contracture and Peyronie's disease, Acthar Gel (repository corticotropin injection) for inflammatory and autoimmune conditions, TERLIVAZ (terlipressin) for hepatorenal syndrome-acute kidney injury, and Aveed (testosterone undecanoate) for hypogonadism. XIAFLEX is the flagship growth asset, with 100,000 men prescribed it for Peyronie's as of January 2026, and a Phase 3 trial in plantar fibromatosis is expected to read out in mid-2026, representing a potential third indication expansion. The combined entity has been shaped by the prior bankruptcies of both predecessor companies related to opioid litigation, leaving a more focused, rare-disease-oriented portfolio than either constituent company historically operated.

Keenova operates a branded specialty pharmaceutical business model: revenue is generated through drug pricing and reimbursement via specialty pharmacies, hospital systems, and physician office channels tailored to each therapeutic area. The company reported Q4 2025 revenue of $543 million from continuing operations (+104% year-over-year, largely driven by merger consolidation) and has guided to $1.94–2.00 billion for full-year 2026, with Adjusted EBITDA guidance of $730–760 million (implied ~37–38% EBITDA margin). Direct-to-consumer marketing has been deployed selectively, including the "Don't Be a Viking" campaign launched in May 2026 to address underdiagnosis of Peyronie's disease, signaling willingness to fund consumer demand generation for rare indications. AI capabilities are limited to operational use in clinical trial execution through sandbox site rehearsals with technology partners YPrime and Veeva.

Name

Keenova

Legal name

Keenova Therapeutics plc

Website

https://keenova.com

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Keenova Therapeutics is a specialty pharmaceutical company formed in November 2025 from the $6.7 billion merger of Mallinckrodt and Endo, focused on rare and underserved conditions across Immunology, Urology, Orthopedics, Critical Care, and Pediatric Endocrinology, with a planned NYSE IPO in H2 2026.

Ownership category

akta.pro rank

Product category

Specialty Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Specialty Care Pharmaceuticals (HLAIAAAB)

akta.pro secondary industries

Nephrology & Urology Specialty Pharmaceuticals (HLAIACAH), Immunology & Autoimmune Specialty Pharmaceuticals (HLAIACAB), Rare Cardiovascular & Vascular Disorder Therapies (HLAIAIAH), Neurology & CNS Specialty Pharmaceuticals (HLAIACAC), Nephrology & Urology Pharmaceuticals (HLAIAAAM)

Keywords

• Specialty pharmaceuticals
• Immunology therapeutics
• Men's health drugs
• Injectable biologics
• Rare disease treatments

Headquarters

HQ city

Blanchardstown

HQ country

Ireland

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Pharmaceutical Product Sales: Keenova generates revenue through the sale of branded pharmaceutical products including Acthar Gel, XIAFLEX, TERLIVAZ, and other specialty therapeutics. Revenue is derived from continuing operations across multiple therapeutic areas.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels7 records

Core offering

Keenova Therapeutics plc is a specialty therapeutics company that develops, manufactures, and commercializes branded prescription drugs in immunology, urology/men's health, orthopedics, critical care, and pediatric endocrinology. Its marketed portfolio includes XIAFLEX, Acthar Gel, TERLIVAZ, and Aveed, produced across five U.S. manufacturing facilities and distributed primarily through specialty pharma channels.

Product overview

Keenova is a specialty therapeutics company focused on rare and unaddressed medical conditions. The company commercializes branded pharmaceuticals across five therapeutic areas: Immunology (Acthar Gel), Urology and Men's Health (XIAFLEX for Peyronie's disease, testosterone products), Orthopedics (XIAFLEX for Dupuytren's contracture), Critical Care (TERLIVAZ for hepatorenal syndrome), and Pediatric Endocrinology (central precocious puberty). The product portfolio includes XIAFLEX (collagenase clostridium histolyticum) for Dupuytren's contracture and Peyronie's disease; Acthar Gel in multiple formulations (5 mL multi-dose vial, 80 USP Units/mL and 40 USP Units/0.5mL single-dose pre-filled SelfJect injectors) for immunology and rare conditions; TERLIVAZ (terlipressin), the first and only FDA-approved therapy for hepatorenal syndrome-acute kidney injury; and Aveed (testosterone undecanoate) 750 mg/3 mL injection. Keenova was formed from the November 2025 merger of Mallinckrodt and Endo ($6.7 billion), with 2024 pro forma combined revenue of $1.7 billion.

Differentiator

Problem solved

Functional benefit

Products and services

• XIAFLEX XIAFLEX is a branded injectable specialty therapeutic indicated for use in urology/men's health, used by specialist prescribers (notably urologists) for the treatment of eligible adult patients with conditions within its labeled indications.
• Acthar Gel Acthar Gel is a branded injectable specialty therapeutic used across immunology and related specialty indications, prescribed by specialist physicians such as rheumatologists and neurologists for eligible patients within its labeled uses.
• TERLIVAZ TERLIVAZ is a branded specialty therapeutic indicated for use in critical care settings, administered by intensivists and hospital-based clinicians for eligible critically ill patients within its labeled indication.
• Aveed Aveed is a branded injectable specialty therapeutic in the men's health/endocrinology area, prescribed by specialist physicians (such as endocrinologists and urologists) for eligible adult patients within its labeled indication.

Quantifiable outcome

• 100,000 men prescribed XIAFLEX for Peyronie's disease as of January 2026
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature3 records

Partnerships

Eleven partnerships are on record, tiered minor.

• Questex's Fierce Life SciencesminorStrategic or Co-development PartnerKeenova is participating in the 2nd annual Partnerships with Sites Summit organized by Questex's Fierce Life Sciences, convening clinical trial sites, sponsors, and CROs to address patient enrollment challenges.
• Eli LillyminorOthersPharmaceutical company participating in the Partnerships with Sites Summit to address clinical trial patient enrollment challenges.
• BiogenminorOthersBiotechnology company participating in the Partnerships with Sites Summit.
• Boehringer IngelheimminorOthersPharmaceutical company participating in the Partnerships with Sites Summit.
• AstraZenecaminorOthersPharmaceutical company participating in the Partnerships with Sites Summit.
• NovartisminorOthersPharmaceutical company participating in the Partnerships with Sites Summit.
• Bristol Myers Squibb (BMS)minorOthersPharmaceutical company participating in the Partnerships with Sites Summit.
• TakedaminorOthersPharmaceutical company participating in the Partnerships with Sites Summit.
• MerckminorOthersPharmaceutical company participating in the Partnerships with Sites Summit.
• TevaminorOthersPharmaceutical company participating in the Partnerships with Sites Summit.
• SanofiminorOthersPharmaceutical company participating in the Partnerships with Sites Summit.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Market position

Strengths4 records

Weaknesses2 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/keenovatherapeutics
• Facebookfacebook.com/keenova.hk

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Keenova