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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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August 21, 2014
15:16 EDTMNKDEA restricts painkiller drug prescriptions to curb abuse, WSJ reports
The Drug Enforcement Agency, or DEA, will reclassify hydrocodone combination painkiller drugs and place them in the category of medical substances that have the highest potential for harm in an attempt to curb the widespread abuse of the drugs, according to The Wall Street Journal. The rescheduling of the drugs will take effect in 45 days and result in people being able to obtain the drug for only 90 days without obtaining a new prescription. Major manufacturers of these drugs include Teva Pharmaceutical (TEVA), Mallinckrodt (MNK), AbbVie (ABBV), and Actavis (ACT). Reference Link
August 19, 2014
09:21 EDTMNKMallinckrodt now a component of the S&P 500 Index
The inclusion comes following the completion of Mallinckrodt’s acquisition of Questcor Pharmaceuticals last week. In addition to increasing the market capitalization of Mallinckrodt, the combination has significantly strengthened the company’s balance sheet, cash generation and leverage position.
August 14, 2014
17:31 EDTZGNXZogenix says Actavis files ANDA for generic version of Zohydro ER
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17:20 EDTMNKRowan Companies to replace Mallinckrodt in S&P 400 as of 8/18 close
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17:18 EDTMNKMallinckrodt to replace Rowan Companies in S&P 500 as of 8/18 close
17:16 EDTMNKPaulson & Co gives quarterly update on stakes
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16:35 EDTMNKMallinckrodt completes acquisition of Questcor Pharmaceuticals
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13:02 EDTMNKMallinckrodt, Questcor holders approve Mallinckrodt's acquisition of Questcor
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12:58 EDTMNKJANA Partners gives quarterly update on stakes
NEW STAKES: Apache (APA), FMC Corp (FMC), Civeo (CVEO), PetSmart (PETM), and Charter Communications (CHTR). INCREASED STAKES: Actavis (ACT), AIG (AIG), Mallinckrodt (MNK), HD Supply (HDS), and American Capital (ACAS). DECREASED STAKES: Liberty (LVNTA), Oil States International (OIS), eBay (EBAY), Liberty Media (LMCA), and Liberty Interactive (LINTA). LIQUIDATED STAKES: Sirius XM (SIRI), Juniper (JNPR), Golar LNG (GLNG), Outerwall (OUTR), and Teva (TEVA).
August 8, 2014
08:31 EDTMNKMallinckrodt patent settlement removes key overhang, says Deutsche Bank
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07:45 EDTMNKMallinckrodt price target lowered to $77 from $90 at Leerink
Leerink lowered its price target for Mallinckrodt (MNK) shares to $77 citing a heightened risk profile from the Questcor (QCOR) acquisition and significant earnings concentration in Acthar. The firm says it remains on the sidelines with a Market Perform rating on Mallinckrodt.
07:44 EDTMNKMallinckrodt remains favorite specialty pharmaceutical name, says UBS
UBS said Mallinckrodt (MNK) remains its favorite specialty pharmaceutical name following the company's update on its merger with Questcor (QCOR). The firm sees estimates increasing following the close of the transaction, the divestiture of the Medical Imaging division, and the reinvestment in higher margin assets. UBS has a Buy rating with a $94 price target on Mallinckrodt.

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