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Fly News Breaks for November 2, 2017
OCRX, MNK
Nov 2, 2017 | 12:50 EDT
BMO Capital analyst Gary Nachman believes Mallinckrodt (MNK) is taking the right approach with a deal to buy Ocera Therapeutics (OCRX) for a "very modest" upfront plus a contingent value right. With the deal, Mallinckrodt bolsters its pipeline and reduces concentration risk for Acthar, Nachman said. The analyst, who thinks Ocera's OCR-002 could have significant potential, reiterates an Outperform rating on Mallinckrodt shares.
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