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Stock Market & Financial Investment News

News Breaks
June 26, 2014
08:42 EDTIG, MNKMallinckrodt grants IGI Labs non-exclusive license to launch generic PENNSAID
IGI Laboratories (IG) announced that it has entered into an agreement with Mallinckrodt (MNK) and Nuvo Research to settle a declaratory judgment action brought by IGI, concerning IGI's filing of an abbreviated new drug application with the FDA seeking approval to market a generic version of PENNSAID 1.5% w/w. Under the terms of this agreement, Mallinckrodt granted IGI a non-exclusive license to launch its diclofenac sodium topical solution 1.5% product on March 28, 2015. IGI received tentative approval of its diclofenac sodium topical solution 1.5% from the FDA on May 7. IGI CEO Jason Grenfell-Gardner said, "The agreement provides IGI with a date certain launch of diclofenac sodium topical solution 1.5%. We remain confident in our ability to obtain final FDA approval of our ANDA for diclofenac sodium topical solution 1.5% prior to our agreed upon launch date. The agreement allows IGI to continue to expand its portfolio of generic topical prescription drug products."
News For IG;MNK From The Last 14 Days
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July 25, 2014
13:13 EDTMNKEinhorn bought Lam Research shares, sold Rite Aid last quarter
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12:18 EDTMNKGreenlight discloses short positions in Safeway, Questcor, Bloomberg says
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July 24, 2014
16:24 EDTIGIGI Laboratories reports Q2 EPS (1c), consensus 0c
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16:22 EDTIGIGI Laboratories director Damian Finio resigns
IGI Laboratories has accepted Damian Finio's resignation from its Board of Directors effective August 11. Mr. Finio has accepted a senior level finance position at a pharmaceutical company, and will be unable to continue in his role as Director. The company has begun a search to replace Mr. Finio on its Board.
July 23, 2014
10:02 EDTMNKOn The Fly: Analyst Initiation Summary
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08:10 EDTMNKDeutsche Bank hosts an analyst Specialty Pharma/Industry conference call
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July 22, 2014
16:09 EDTMNKMallinckrodt initiated with a Buy at Deutsche Bank
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July 21, 2014
07:36 EDTMNKMallinckrodt price target raised to $95 from $85 at Jefferies
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July 17, 2014
10:00 EDTMNKOn The Fly: Analyst Initiation Summary
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July 16, 2014
16:13 EDTMNKMallinckrodt initiated with an Outperform, $100 target at Oppenheimer
Oppenheimer believes Mallinckrodt's (MNK) acquisition of Questcor (QCOR) provides sustainable high-growth revenue potential. It believes the company bought Acthar at an attractive valuation. Opco started shares of Mallinckrodt with an Outperform rating and $100 price target.
16:09 EDTMNKMallinckrodt initiated with an Outperform at Oppenheimer
Target $100.
July 14, 2014
15:09 EDTMNKQuestcor rises after S-4 effective, interest from other suitors disclosed
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07:04 EDTMNKMallinckrodt and Questcor update transaction
Mallinckrodt (MNK) and Questcor (QCOR) announced that the registration statement on Form S-4 filed with the SEC by Mallinckrodt on May 16 and amended on July 11 which includes a joint proxy statement of Mallinckrodt and Questcor that also constitutes a prospectus of Mallinckrodt, was declared effective on July 11. The companies have also each scheduled shareholder meetings on August 14 for shareholders of record on July 9 to consider (i) in the case of Mallinckrodt, its proposal to issue its ordinary shares in connection with its proposed acquisition of Questcor and (ii) in the case of Questcor, approval of the merger agreement with Mallinckrodt and related matters. The transaction is currently expected to be completed in August.
July 11, 2014
06:39 EDTMNKQuestcor reports Acthar adverse effects data, NY Times says
The number of patients who reported an adverse effect last year while taking Questcor's (QCOR) Acthar drug amounted to almost 5% of prescriptions dispensed, the company stated in a regulatory filing released yesterday, according to The New York Times. The filing marked the first time that the company has disclosed any difficulties experienced by Acthar patients, the newspaper added. Questcor has agreed to be bought by Mallinckrodt (MNK). Reference Link

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