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IPCI

Intellipharmaceutics

$2.83

-0.01 (-0.35%)

, MNK

Mallinckrodt

$68.16

-2.62 (-3.70%)

16:50
10/11/16
10/11
16:50
10/11/16
16:50

Intellipharmaceutics signs agreement with Mallinckrodt

Intellipharmaceutics International (IPCI) announced that it has entered into a license and commercial supply agreement with Mallinckrodt (MNK) by which the company has granted Mallinckrodt an exclusive license to market, sell and distribute in the U.S. the following extended release drug product candidates for which Intellipharmaceutics has abbreviated new drug applications filed with the FDA: Quetiapine fumarate extended-release tablets - ANDA tentatively approved by FDA; Desvenlafaxine extended-release tablets - ANDA under FDA review; Lamotrigine extended-release tablets - ANDA under FDA review. Collectively, the present annualized sales by third parties for the currently marketed versions of these products in the U.S. are approximately $2.5B. Under the terms of the 10-year agreement, Intellipharmaceutics will receive a non-refundable upfront payment of $3M in October. In addition, the agreement also provides for the company to have a long-term profit sharing arrangement with respect to the licensed products. Intellipharmaceutics has agreed to manufacture and supply the licensed products exclusively for Mallinckrodt, and Mallinckrodt has agreed that Intellipharmaceutics will be its sole supplier of the licensed products marketed in the U.S.

IPCI

Intellipharmaceutics

$2.83

-0.01 (-0.35%)

MNK

Mallinckrodt

$68.16

-2.62 (-3.70%)

  • 20

    Oct

  • 14

    Dec

IPCI Intellipharmaceutics
$2.83

-0.01 (-0.35%)

10/04/16
BMUR
10/04/16
INITIATION
Target $8
BMUR
Buy
Intellipharmaceutics assumed with a Buy at Brean Capital
Brean Capital analyst Difei Yang assumed coverage of Intellipharmaceutics with a Buy rating and $8 price target.
MNK Mallinckrodt
$68.16

-2.62 (-3.70%)

08/18/16
08/18/16
NO CHANGE

Mallinckrodt building new campus for Specialty Brands business in New Jersey
Mallinckrodt will build out a new campus for its Specialty Brands organizations in the Somerset Financial Center in Bedminster. Mallinckrodt will invest greater than $80M in New Jersey, and anticipates approximately 400 employees will occupy the new space in 1Q17. The company is also continuing its investment in St. Louis, Mo., having recently begun the next phase of construction at its downtown St. Louis manufacturing facility.
08/24/16
PIPR
08/24/16
NO CHANGE
Target $112
PIPR
Overweight
Mallinckrodt price target raised to $112 from $103 at Piper Jaffray
Piper Jaffray analyst David Amsellem said his talks with Mallinckrodt management indicate that the company's contracting activity is providing greater standardization of Acthar coverage and generally making the process of getting an Acthar prescription filled more predictable. In turn, this should make it more likely that physicians and practices will more consistently prescribe the drug, Amsellem tells investors. Paired with additional clinical outcomes data, Amsellem sees high visibility for relatively strong volume growth over the long-term and raised his price target on Mallinckrodt shares to $112 from $103 while keeping an Overweight rating on the stock.
08/26/16
UBSW
08/26/16
NO CHANGE
Target $92
UBSW
Buy
Skepticism on Acthar growth already priced into Mallinckrodt shares, says UBS
UBS analyst Marc Goodman said his investment thesis on Mallinckrodt remains unchanged, as he still sees an attractive valuation, has expectations its generics business will stabilize and believes that skepticism surrounding Acthar's growth is already priced into the stock. Goodman reiterated his Buy rating and $92 price target on Mallinckrodt shares.
09/21/16
MSCO
09/21/16
NO CHANGE
MSCO
Mallinckrodt's Ikaria acquisition underappreciated, says Morgan Stanley
Morgan Stanley analyst David Risinger said since the closing of the Ikaria acquisition, Mallinckrodt has quietly grown to be approximately 15% of 2017 estimates revenues and approximately 25% of 2017 estimated operating income. Given Ikaria's strong growth trends, Risinger estimates its valuation to be in the range of $3.9B-$4.3B, excluding Terlipressin pipeline asset, 78% more at the midpoint than Mallinckrodt's $2.3B purchase price.

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