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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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January 30, 2015
19:44 EDTZGNXZogenix receives FDA approval of new formulation of Zohydro ER
Zogenix announced that the U.S. FDA has approved a new formulation of Zohydro ER Extended-Release Capsules, CII, with BeadTek. BeadTek is a formulation technology designed to provide abuse-deterrent properties without changing the release properties of hydrocodone when Zohydro ER is used as intended. Concurrently, Zogenix has ongoing Human Abuse Liability studies, which will further characterize the abuse-deterrent properties of the new formulation. Zogenix intends to submit these data in the second half of 2015 to the FDA to support an amended product label, including abuse-deterrent claims consistent with the FDA's current draft Guidance for Industry, Abuse-Deterrent Opioids – Evaluation and Labeling. BeadTek incorporates well-known pharmaceutical excipients that immediately form a viscous gel when crushed and dissolved in liquids or solvents. Zohydro ER is the only long-acting hydrocodone product administered every 12 hours, and the new formulation maintains the same efficacy and pharmacokinetic profile of the original formulation. Transition to Zohydro ER with BeadTek is expected to occur in the second quarter of 2015 for all prescribed strengths ranging from 10 mg to 50 mg, without disruption to patients currently on therapy.
10:00 EDTZGNXFDA PDUFA Date for Zogenix Zohydro ER is January 30, 2015
January 23, 2015
07:04 EDTMNKMallinckrodt board approves share repurchase program
Mallinckrodt announced that its board has approved a share repurchase program. The open-ended authorization permits the company to repurchase up to $300 million of Mallinckrodt ordinary shares.

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