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Fly News Breaks for February 2, 2018
SCMP, MNK
Feb 2, 2018 | 04:53 EDT
Barclays analyst Douglas Tsao downgraded Mallinckrodt to Underweight and cut his price target for the shares to $20 from $23. The acquisition of Sucampo (SCMP) does not address ongoing concern over Acthar and reduces the company's strategic options by raising leverage to 4.5 times, Tsao tells investors in a research note. Reimbursement pressure for Acthar could intensify, and, while not imminent, the franchise could face competition, the analyst adds.
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