Mallinckrodt downgraded to Sell from Neutral at UBS UBS downgraded Mallinckrodt due to rich valuation and expectations the Xartemis XR ramp will be below expectations and MNK-155 will disappoint. Price target remains $43.
Bellerophon expands license agreement with Mallinckrodt for INOpule development Bellerophon (BLPH) has expanded its license agreement with INO Therapeutics, a division of Mallinckrodt (MNK), allowing Bellerophon to develop INOpulse for the treatment of three additional cardiopulmonary diseases, including chronic thromboembolic pulmonary hypertension, pulmonary hypertension associated with sarcoidosis and pulmonary hypertension associated with pulmonary edema from high altitude sickness. Bellerophon's existing license with INO Therapeutics covers the development of INOpulse for pulmonary arterial hypertension, pulmonary hypertension associated with COPD and pulmonary hypertension associated with idiopathic pulmonary fibrosis. Terms of the expanded license agreement include a 5% royalty on net sales for the three additional indications.