|Day's Range||0.4000 - 0.4000|
A Philadelphia judge slashes J&J's (JNJ) punitive damages in a lawsuit, which claims that the company did not warm men that they could grow breasts by using its antipsychotic drug, Risperdal.
Shares of Mallinckrodt PLC shot up 22% in afternoon trading Wednesday, enough to pace the NYSE's gainers, to stretch its gains for the week to 38%. Trading volume spiked to 15.7 million shares, nearly triple the full-day average of 5.3 million shares. The stock started rallying this week after Chief Financial Officer Bryan Reasons said at the J.P. Morgan Health Care Conference on Monday that the company could pay off its potential 2020 debt maturities, which is a "slightly over" $600 million, in cash. And regarding the dispute with the government over pricing for Acthar, he implied that he was optimistic regarding a favorable outcome, so there was no need to rush to settle. "Right now, we felt like the hearing went really well and we feel good about it," Reasons said, according to a transcript provided by FactSet. "So, we don't feel it's in our best interest to actually initiate the settlements." And regarding the opioid litigations, Chief Executive Mark Trudeau said he was "hopeful" that a resolution can be reached "sooner rather than later." The stock has more than doubled (up 110%) over the past three months, while the SPDR S&P Pharmaceuticals ETF has climbed 29.5% and the S&P 500 has gained 9.8%.
Mallinckrodt plc (NYSE: MNK), a global biopharmaceutical company, announced today that Mark Trudeau, President and Chief Executive Officer, and other members of management will represent the company at the 38th Annual J.P. Morgan Healthcare Conference at the Westin St. Francis on Union Square, 335 Powell St., San Francisco. Mallinckrodt is scheduled to present on Monday, Jan. 13, 2020 from 9:00 a.m. to 9:55 a.m. Pacific Time.
Mallinckrodt (MNK) initiates phase IV, multi-center, multiple-dose, open-label study to assess the effects of lead drug Acthar Gel as a therapy option in patients with severe keratitis.
Mallinckrodt plc (NYSE: MNK), a global biopharmaceutical company, today confirmed enrollment of the first patient in the company's Phase 4, multi-center, multiple-dose, open-label study to assess the effects of Acthar Gel as a therapy option in patients with severe keratitis1.
Mallinckrodt plc (NYSE: MNK), a global biopharmaceutical company, today announced plans to update Mallinckrodt's Incentive Compensation Clawback Policy and to develop and publish a report on the Board's oversight of risks related to the opioid crisis in the U.S. These actions are in response to the approval of related shareholder proposals presented at the Company's 2019 Annual General Meeting held on May 15, 2019.
Moody's Investors Service ("Moody's") downgraded Mallinckrodt International Finance SA's ("Mallinckrodt") Corporate Family Rating ("CFR") to Caa2 from Caa1. Moody's also downgraded the senior secured revolver and term loans to Caa1 from B2, the guaranteed senior unsecured notes to Ca from Caa2, and the unguaranteed senior unsecured notes to Ca from Caa3. Moody's also affirmed the Probability of Default Rating ("PDR") at Caa1-PD and appended it with an "/LD" designation.
Mallinckrodt plc (NYSE: MNK), a global biopharmaceutical company, today announced findings on the use of a novel predictive model designed to more quickly identify infants with infantile spasms (IS), a rare seizure disorder that typically occurs between three and seven months of age.1 The study results were reported in a poster presentation titled, "Clinical Pathways Leading to a Diagnosis of Infantile Spasms Using a Claims Database," (Poster 1.209) today during the 2019 Annual Meeting of the American Epilepsy Society (AES) in Baltimore.
Two St. Louis companies were involved in a couple of the 15 worst cooperate biotech deals of the past 10 years, according to FierceBiotech, a biotechnology news publication.
Mallinckrodt (MNK) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Mallinckrodt plc (NYSE: MNK) today announced (1) the final results of the previously announced offers by its wholly owned subsidiaries, Mallinckrodt International Finance S.A. and Mallinckrodt CB LLC (the "Issuers") to Eligible Holders (as defined below) to exchange (the "Exchange Offers") certain outstanding notes (collectively, the "Existing Notes") issued by the Issuers for new 10.000% Second Lien Senior Secured Notes due 2025 to be issued by the Issuers (collectively, the "New Notes") and solicitations of consents by the Issuers from Eligible Holders of each series of Existing Notes (other than the Existing 4.750% 2023 Notes) to Proposed Amendments (as defined below) to the indentures governing such Existing Notes (the "Consent Solicitations") and (2) the Existing Notes anticipated to be exchanged with the Issuers, separate from the Exchange Offers, pursuant to that certain exchange agreement, dated as of November 5, 2019 and subsequently amended on November 27, 2019, by and among Deerfield Partners, L.P., Deerfield Special Situations Fund, L.P. and Deerfield Private Design Fund IV, L.P. (such holders, the "Exchanging Holders") and the Issuers (as amended, the "Exchange Agreement").
J&J (JNJ) says that two third-party labs conducted 155 tests on samples of its baby powders. All these tests confirm that the talc does not contain asbestos, a known carcinogen.
Mallinckrodt plc (NYSE: MNK), a global biopharmaceutical company, announced today that the Company now will present at the Piper Jaffray Annual Healthcare Conference on Wednesday, Dec. 4, 2019 at 12:30 p.m. Eastern.
The stock prices of opioid drugmakers and distributors fell this week after news of a possible federal criminal probe, eroding many of the gains made in the weeks since a global settlement resolving opioid litigation was first announced.
Shares of companies caught up in the opioid litigation have risen recently, but a Wall Street Journal report appears to have reminded investors that the trouble could continue.
Benzinga Pro's Stocks To Watch For Wednesday Deere (DE) - The stock traded 4% lower in pre-market trading after the company guided FY20 agricultural sales down 5%-10%. The company said trade tensions ...
Shares of some manufacturers and distributors of opioid drugs decline on Tuesday following reports that a criminal probe has been initiated by federal prosecutors.
Pharmaceutical companies are in trouble over their role in fueling the opioid crisis facing the U.S. What Happened Federal authorities have launched a criminal investigation against the companies — using ...