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Fly News Breaks for September 13, 2017
ANIP, MNK
Sep 13, 2017 | 06:25 EDT
As previously reported, Mizuho downgraded Mallinckrodt (MNK) to Neutral from Buy and slashed its price target to $40 from $70. Following the unexpectedly negative Inomax District Court decision. Analyst Irina Koffler said Mallinckrodt consists of a gradually declining generics portfolio, and a "basket" of branded assets that face some degree of competition and downside risks. Koffler lowered his Inomax forecast to reflect a second market entrant and sees risk to Arthar from any positive progress by competitor ANI Pharmaceuticals (ANIP).
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