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August 6, 2014
08:16 EDTMNK, DEPOMallinckrodt receives patent from U.S. PTO
Mallinckrodt (MNK) announced that on July 29 the U.S. Patent and Trademark Office granted the company a new patent related to MNK-155. The patent, U.S. Patent Number 8,790,694 contains composition claims directed to unique design, formulation, pharmacokinetic, and release characteristics of MNK-155 and conveys the same period of exclusivity as did the patent granted in 2013 for the companyís product XARTEMIS XR Extended-Release Tablets. MNK-155 is Mallinckrodtís investigational extended-release oral formulation of hydrocodone and acetaminophen studied for the management of moderate to moderately severe acute pain where the use of an opioid analgesic is appropriate. The release profile of MNK-155 combines Mallinckrodt-proprietary technology and Depomedís (DEPO) advanced Acuform drug delivery technology.
News For MNK;DEPO From The Last 14 Days
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December 1, 2015
07:47 EDTDEPOPiper Jaffray to hold a conference
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November 24, 2015
10:25 EDTMNKOptions with decreasing implied volatility
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08:46 EDTMNKMallinckrodt price target lowered to $82 from $97 at Leerink
Leerink analyst Jason Gerberry says Mallinckrodt reported a strong Q4 for Acthar. The analyst wants to see a few more quarters of outperformance, however, before adjusting his estimates. He lowered his price target for Mallinckrodt to $82 citing the group rerating and keeps an Outperform rating on the name.
November 23, 2015
09:18 EDTMNKOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tyson Foods (TSN), up 2.4%... Mallinckrodt (MNK), up 7.4%. ALSO HIGHER: Novocure (NVCR), up 16.8% after announcing new Phase 3 data from Optune study... CTI BioPharma (CTIC), up 12.7% after the initiation of its rolling new drug application to the FDA for pacritinib... Peabody Energy (BTU), up 14.8% after announcing an asset sale... Sarepta Therapeutics (SRPT), up 5.2% following a positive mention in Barron's. DOWN AFTER EARNINGS: Trina Solar (TSL), down 5.6%. ALSO LOWER: Par Pacific (PARR), down 13.2% after pricing its 3.4M registered direct offering at $22.00... Lions Gate (LGF), down 2.9% after the "Hunger Games" finale opens below the series average.
07:37 EDTDEPOHorizon Pharma reinstated with a Buy at Jefferies
Jefferies analyst David Steinberg reinstated Horizon Pharma (HZNP) with a Buy rating and reduced price target of $32. The company's standalone growth "appears healthy" and a near-term deal is likely following its failed attempt to acquire Depomed (DEPO), Steinberg tells investors in a research note.
06:12 EDTMNKValeant questions spread to similar drug companies, WSJ says
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06:03 EDTMNKMallinckrodt reports Q4 adjusted EPS $1.84, consensus $1.77
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November 20, 2015
09:10 EDTDEPOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), up 16.3%... Foot Locker (FL), up 4.8%. ALSO HIGHER: Horizon Pharma (HZNP), up 1.6% after withdrawing offer to acquire Depomed (DEPO)... Nike (NKE), up 4.3% after announcing a $12B repurchase program, a two-for-one stock split, and that it will raise its dividend. DOWN AFTER EARNINGS: Nimble Storage (NMBL), down 45.3%... Mentor Graphics (MENT), down 28%. ALSO LOWER: Depomed, down 5.9% after Horizon Pharma withdrew its offer to acquire the company... Builders FirstSource (BLDR), down 3.7% after 7M share Spot Secondary priced at $13.25.
07:22 EDTMNKMallinckrodt price target lowered to $85 from $130 at Jefferies
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05:17 EDTDEPODepomed comments on Horizon Pharma withdrawal of offer to acquire company
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05:13 EDTDEPOHorizon Pharma withdraws offer to acquire Depomed
Horizon Pharma (HZNP) announced that at a hearing, Judge Peter Kirwan of the Superior Court of California for the County of Santa Clara granted Depomed's (DEPO) motion for preliminary injunctive relief against Horizon Pharma's alleged use of information that Depomed claimed was confidential. In his ruling, Judge Kirwan did not grant the injunctive relief Horizon Pharma had sought regarding the legality of Depomed's poison pill and certain of the bylaw amendments announced by Depomed's board of directors on July 13. While we strongly disagree with the court's ruling, we are withdrawing our offer to acquire Depomed," said Timothy P. Walbert, chairman, president and CEO, Horizon Pharma. "Today's ruling by the court does not affect our 2016 guidance or long-range plan or expectations. We have built a strong and diversified portfolio of medicines that we expect will exceed $750Mn in net sales in 2015 and we expect will drive nearly $1B in net sales in 2016. As we look to the future, we are committed to our strategy of complementing our strong organic growth, which has the potential to double our net sales to approximately $2B by 2020, with value enhancing acquisitions. While we are disappointed by the court's ruling, Depomed was only one of many attractive acquisition opportunities we have been actively pursuing."
November 19, 2015
09:04 EDTMNKMallinckrodt authoizes $500M expansion to share repurchase program
Mallinckrodt has authorized an incremental $500M share repurchase program. The new authorization permits the company to repurchase up to $500M of Mallinckrodt plc ordinary shares. This new authorization supplements the roughly $200M remaining from the previously authorized share repurchase plan announced in January. Mallinckrodt also authorized management to reduce the company's outstanding debt at its discretion. Both the share repurchase and debt reduction programs are open-ended in time, and based on Mallinckrodt's expected capacity to generate durable earnings and approximately $1B in annual cash flow.
09:02 EDTMNKMallinckrodt board adds $500M to existing share repurchase program
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08:58 EDTMNKMallinckrodt trading halted, pending news
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November 18, 2015
12:06 EDTMNKDrug at center of new pricing concern immaterial to Mallinckrodt, says Northland
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05:51 EDTMNKMallinckrodt price increase raises new questions, WSJ says
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05:39 EDTMNKMallinckrodt raised infant seizure drug price by 2,000%, CBC reported
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November 17, 2015
16:59 EDTDEPODepomed acquires U.S. rights to pain product from Grunenthal
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