Specialty drugmaker Mallinckrodt beat analysts’ expectations handily in its fiscal Q4 report, but it didn’t provide hoped-for guidance in the wake of an FDA decision that hits one of its best-selling drugs. Mallinckrodt (MNK) stock was down 4% in early trading on the stock market today, near 85, and is now down more than 10% since touching an all-time high of 95.74 on Nov. 5. For its fiscal fourth quarter, which ended Sept. 26, Mallinckrodt made
Specialty drugmaker Mallinckrodt (MNK) said Thursday that the FDA is no longer recognizing its generic ADHD drug as equivalent to the original, which would essentially knock it out of the market. Mallinckrodt was down 5.5% in morning trading in the stock market today, near 88. Malinckrodt stock touched an all-time high near 96 on Nov. 5. The drug in question, methylphenidate ER, is a generic version of Concerta, Johnson & Johnson’s (JNJ)
AcelRx Pharmaceuticals (ACRX) stock plunged more than 40% below 7 in afternoon trading on the stock market today after the FDA rejected the specialty-drug startup’s drug-dispensing device late Friday. The product in question is Zalviso, a device designed to let hospital patients self-dispense doses of the oral painkiller sufentanil, partly with components supplied by Mallinckrodt (MNK) and Patheon. The FDA’s letter to the company expressed concern