MNK
Mallinckrodt Public Limited Company
Healthcare
06/27/2014
Presented
| Date | 06/24/2014 |
| Price | $77.01 |
| Market Cap | $4.50B |
| Ent Value | $6.38B |
| P/E Ratio | N/A |
| Book Value | $43.64 |
| Div Yield | N/A |
| Shares O/S | 580.48M |
| Ave Daily Vol | 2,290,000 |
| Short Int | 27.20% |
Current
| Price | no data |
| Market Cap | no data |
| Mallinckrodt public limited company develops, manufactures, markets, and distributes branded and generic specialty pharmaceuticals, active pharmaceutical ingredients (API), and diagnostic imaging agents worldwide. The company’s Specialty Pharmaceuticals segment offers EXALGO extended-release tablets to treat chronic pain in opioid-tolerant patients; and GABLOFEN injections indicated for use in the management of spasticity of cerebral or spinal origin in patients age four years and above. This segment also provides generic pharmaceutical products, including acetaminophen products, oxycodone-containing tablets, hydrocodone-containing tablets, and methylphenidate HCl extended-release tablets USP (CII) to treat attention deficit hyperactivity disorder and addiction, as well as API products comprising hydrocodone and oxycodone; and medicinal opioids and synthetic controlled substances. This segment markets its branded products to physicians, including pain specialists, anesthesiologists, orthopedic surgeons, managed care organizations, and neurologists directly; and generic products to wholesalers, retail pharmacy chains, food store chains with pharmacies, mail order pharmacies, and hospital buying groups. Its Global Medical Imaging segment provides contrast media and delivery systems comprising ioversol and gadoversetamide injections for diagnostic imaging applications, such as computed tomography and magnetic resonance imaging under the Optiray and Optimark brands; and pre-filled syringes and proprietary power injectors. This segment also offers nuclear imaging agents consisting of technetium-99m generators under the Ultra-Technekow DTE brand; cold kits; and radiopharmaceuticals, such as Octreoscan kits for localization of tumors. This segment sells its contrast media systems to hospitals and imaging centers; and API products to other pharmaceutical companies directly or through distributors. The company is based in Dublin, Ireland. |
Publicly traded companies mentioned herein: Aetna Inc (AET), Covidien (COV), Cigna Corp (CI), Mallinckrodt PLC (MNK), Mylan (MYL), Questcor Pharmaceuticals, Inc. (QCOR)
Highlights
In August, 2013 Covidien completed the spin-off of its Pharmaceuticals business, and just eight months later Mallinckrodt (MNK) announced its intention to purchase Questcor (QCOR) for $5.6 billion. The presenter is long shares of MNK and believes the favorable risk/ reward opportunity is “materially misunderstood,” as the Street/ market are vastly underestimating the post-closure earnings power of MNK. Much of the selling pressure post-announcement of the offer was due to the controversial nature of the deal and concerns surrounding both the use and insurance coverage of QCOR’s Acthar Gel.
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