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Stock Market & Financial Investment News

News Breaks
January 9, 2014
08:31 EDTMNK, ZGNXMallinckrodt, Zogenix to end co-promotion agreement
Mallinckrodt (MNK) announced a mutually-agreed upon end of the company’s co-promotion agreement with Zogenix (ZGNX). The co-promotion agreement covered SUMAVEL DosePro, a prescription medicine given with a needle-free delivery system to treat adults who have been diagnosed with acute migraine or cluster headaches. Mallinckrodt’s promotion of SUMAVEL DosePro will end January 31. Mallinckrodt and Zogenix entered into the co-promotion agreement June 7, 2012. Under terms of the agreement, Mallinckrodt’s U.S. sales force sold SUMAVEL DosePro to its customer base of prescribers. Zogenix continued to record all product revenues and Mallinckrodt was compensated based on a percentage of net sales from prescriptions generated by Mallinckrodt. The original agreement was to have run through June 30, 2014.
News For MNK;ZGNX From The Last 14 Days
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October 23, 2014
10:01 EDTMNKOn The Fly: Analyst Initiation Summary
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07:20 EDTMNKMallinckrodt initiated with a Buy at Guggenheim
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October 20, 2014
07:12 EDTMNKCongress of Neurological Surgeons to hold annual meeting
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October 15, 2014
06:42 EDTMNKMallinckrodt valuation remains compelling, says Piper Jaffray
Piper Jaffray believes Mallinckrodt's outlook for FY15 is conservative and that the risk/reward on shares is compelling. The firm raised its price target for the stock to $109 from $105 following the company's investor day and reiterates an Overweight rating on the name.
October 14, 2014
11:13 EDTMNKMallinckrodt management to meet with UBS
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09:40 EDTMNKMallinckrodt aims to drive 'modest' growth in specialty controlled generics
Says aiming for profitability and revenue growth. Will continue to expand its pain management business. Looking to increase shareholder value, patient solutions and to drive top-line growth. Says aims to develop and acquire "durable, late stage complex products." Looking to invest in pipeline extensions of key portfolio assets. Aims to divest lower margin, slower growing business. Says sees future expansion in ophthalmology and dermatology. Looks to actively divest lower-growth businesses. Says durable assets, platforms positioned for sustained Specialty Pharmaceuticals growth. Says OFIRMEV is well positioned for growth in FY15 and beyond. Aims to up Acthar growth and initiate commercial efforts. Plans to enhance its science and technology investment. Comments made during the company's investor briefing.
07:34 EDTMNKMallinckrodt to host conference call
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07:02 EDTMNKMallinckrodt sees FY15 adjusted EPS $6.70-$7.20, consensus $6.80
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06:03 EDTMNKMarket overreacted to new Irish tax rules, says BMO Capital
BMO Capital believes the market may have overreacted yesterday to the report that Ireland is eliminating the "Double Irish" tax loophole. The firm says Allergan (AGN) confirmed that it incorporated potential changes to Irish tax law in its recently raised earnings guidance while Mallinckrodt (MNK) said it does expect the new tax structure to have an immediate impact. BMO views yesterday's pullback in shares of Allergan, Mallinckrodt and Actavis (ACT) as an overreaction.

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