Mallinckrodt and Endo, drugmakers which recently emerged from bankruptcy after a wave of U.S. opioid lawsuits, announced plans Thursday to join forces in a deal valued at $6.7 billion. Mallinckrodt Chief Executive Siggi Olafsson said the companies' operations and products complement each other.

Drugmaker Mallinckrodt struck a deal to buy Endo in an effort to build a diversified pharmaceuticals company with a hefty U.S. footprint.

Malvern-based Endo has found a merger partner, agreeing to combine with another troubled pharmaceutical firm in a deal valued at $6.7 million.