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Fly News Breaks for September 10, 2019
MNK
Sep 10, 2019 | 11:40 EDT
Stifel analyst Annabel Samimy maintained a Hold rating and $8 price target on Mallinckrodt, but noted that Mallinckrodt announced the sale of its CDMO organization, BioVectra, to HIG Capital for a potential $250M, which the analyst believes is "a positive step to manage and bolster cash and maintain capital allocation priorities." Samimy added that, with the departure of Specialty Generics President Matthew Harbaugh, the company's suspension of the spin-off appears indefinite.
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