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Fly News Breaks for February 22, 2017
MNK
Feb 22, 2017 | 08:12 EDT
UBS analyst Marc Goodman noted the FDA agreed to suspend the deadline for submitting documentation in support of a hearing on the FDA's proposal to withdraw Mallinckrodt's ANDA for its generic Concerta. The entire process could take until the end of 2017, if not longer, said Goodman, who was only modeling one quarter of sales for generic Concerta, leaving potential for some upside, he tells investors. Goodman believes the delay is a modest positive for the stock and he reiterated his Buy rating and $77 price target on Mallinckrodt shares.
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