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Fly News Breaks for September 6, 2017
PX, MNK
Sep 6, 2017 | 07:53 EDT
Canaccord analyst Dewey Steadman said Mallincrodt's (MNK) selloff following the disappointing litigation result was overblown. He said Inomax represents one of the company's more durable franchises and doesn't see an imminent Praxair (PX) launch. He also believes if Praxair was to launch its competitor drug, he believes the two companies can share the market. Steadman added that Mallinckrodt's valuation is now attractively low and reiterated his Buy rating and $77 price target on the shares.
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