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Fly News Breaks for August 24, 2016
MNK
Aug 24, 2016 | 08:38 EDT
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.
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