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Stock Market & Financial Investment News

News Breaks
June 27, 2014
12:14 EDTQCOR, UNH, MNKUnitedHealth updates policy, says Acthar isn't medically necessary in MS
In an updated drug policy with an effective date of August 1, UnitedHealthcare (UNH) stated that it does not view Questcor's (QCOR) H.P. Acthar gel as medically necessary for treatment of acute exacerbations of multiple sclerosis. "Published clinical evidence does not demonstrate superiority of Acthar to other available corticosteroids," UnitedHealthcare stated in its bulletin. Note that Mallinckrodt (MNK) has proposed a merger with Questcor. UnitedHealthcare's website cites June 23 as the published date of the new drug policy for Acthar. Reference Link
News For QCOR;UNH;MNK From The Last 14 Days
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August 28, 2014
09:03 EDTMNKMallinckrodt to present data on MNK-155, XARTEMIS XR at PAINWeek
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August 25, 2014
10:40 EDTMNKBiotechs rise after InterMune acquired by Roche
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August 24, 2014
21:53 EDTUNHNational Association of Chain Drug Stores to hold an expo
2014 NACDS Total Store Expo to be held in Boston on August 23-25.
August 22, 2014
09:02 EDTMNKMallinckrodt names Furey Chief Compliance Officer
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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.

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