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Fly News Breaks for March 29, 2019
MNK
Mar 29, 2019 | 05:53 EDT
Mizuho analyst Irina Koffler spent a day with Mallinckrodt management and found them optimistic about the growth outlook of key brands. Management does not view opioid litigation as an existential risk for Mallinckrodt, and awaits imminent pipeline readouts while advancing towards the spin of its legacy generics business, Koffler tells investors in a research note. However, to reflect slower 2019 growth of Acthar, the analyst lowered her price target for the shares to $25 from $26. She reiterates a Neutral rating on the name.
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