Hay a_nguyen001 check out after hrs trading your 30k shares are being diluted. Looks like you lost $62,000 so far on your worthless investment. Yell baby your quite the trader. LOL....
Revenue excluding currency swings will rise at least 10%, Mallinckrodt said. Analysts are looking for $3.65 billion in revenue next year.
Fiscal 2016 Mallinckrodt Financial Guidance1,2
For fiscal 2016, Mallinckrodt's annual net sales are expected to increase at least 10% on an operational basis, which excludes the impact of fluctuations in foreign currency exchange rates. Net sales for the company's Specialty Brands segment are expected to increase at least 30%. The segment forecast includes net sales for H.P. Acthar® Gel (repository corticotropin injection) and OFIRMEV® (acetaminophen) injection along with full fiscal year net sales contributions from INOMAX® (nitric oxide) for inhalation and the Therakos® immunology platform. Net sales for the company's Specialty Generics segment are expected to decrease 15% to 20%. Net sales for the company's Global Medical Imaging segment (excluding CMDS) are expected to decrease 5% to 10%.
Mallinckrodt expects adjusted diluted earnings per share (EPS) to be in the range of $7.70 to $8.20 for fiscal 2016. Net interest expense is forecasted to be in the range of $370 million to $385 million. The adjusted effective tax rate is expected to be between 15% and 17%. This range reflects an estimated weighted average diluted share count of 118 million to 121 million.
Cramer said that all of the rollup companies, those that borrow money to buy new businesses, have been under pressure, but Mallinckrodt is getting hit even harder because the company's acquisition of Questcor Pharmaceuticals is proving to be more trouble than it's worth, just as many critics had predicted.
Mallinckrodt had a bullish following after the company was originally spun off, but Cramer noted the 2007 decision to raise the price of Questcor's main drug from $1,650 a vile to $23,000 is proving to be a disaster in an environment where drug pricing is coming under increased scrutiny.
Making matters worse, in the middle of its now high-profile litigation Mallinckrodt's general counsel has resigned, adding to the uncertainty.
With shares down 38% so far this year, Cramer said investors would be wise to continue to steer clear of Mallinckrodt for the foreseeable future.
The news is not about potency but the decision to move forward with a Phase 2 study.
This compound has been around for quite some time and the company reported back in December 2014 that it was 200-fold more potent than Viread - all in vitro data.
In 2012 Merck licensed this compound from Chimerix, ran a Phase 1 study, and gave it back in 2014.
And now it has to beat TAF, not tenofovir disoproxil fumarate. If Gilead was interested they would have jumped on this years ago.
Congratulations you managed to lose $25,000 in just 1 hour. Yell baby your quite the trader. ot! LOL...
While it beat FQ4 estimates, Micron (NASDAQ:MU) has guided on page 20 of in its earnings slides (.pdf) for FQ1 revenue of $3.35B-$3.6B and EPS of $0.20-$0.26, below a consensus of $3.74B and $0.38
Nomura Securities initiates coverage on Mallinckrodt plc (NYSE: MNK) with a Neutral rating and a price target of $100.00.Analyst Shibani
Valeant takes another hit after House Dems request subpoena for docs on drug pricing; shares off 12%
Valeant Pharmaceuticals (VRX -11.9%) gets some rude treatment today. Shares are down on a 4x surge in volume in response to the news that Democrats in the U.S. House of Representatives have made a request to subpoena the company for documents related to its increases in drug pricing.
In a letter to Jason Chaffetz, Chairman of House's Committee on Oversight and Government Reform, 18 Democratic representative stated, "We believe it is critical to hold drug companies to account when they engage in "a business of buying old neglected drugs and turning them into high-priced specialty drugs."
Valeant may have some explaining to do. It increased the prices of Nitropress and Isuprel 212% and 525%, respectively, the day it bought them.