Mallinckrodt earnings mixed
The specialty-drug maker said EPS minus 1-time items for fiscal Q1 ended Dec. 26 more than doubled from a year ago to $1.84, beating views by 26 cents. Mallinckrodt's (MNK) sales rose 60% to $866.3 mil, about $20 mil shy of forecasts. On an earnings call with analysts, CFO Matt Harbaugh said he expects sales of 2 of the firm's leading drugs, Acthar, used to treat Addison's disease and other ailments, and pain reliever Ofirmev to be "impacted by ongoing seasonal timing" this quarter. Shares fell 1.7% to 104.93.
