Mallinckrodt Pharmaceuticals (NYSE:MNK) said today that the FDA granted orphan drug status to its long-acting cosyntropin acetate formulation, MNK-1411, for the treatment of Duchenne muscular dystrophy. In August last year, the FDA approved the company’s request to fast track its investigational new drug application for the therapy. Get the full story at our sister site, Drug […]
Mallinckrodt
Mallinckrodt responds to probe into pricey injection pain-killer
Mallinckrodt Pharmaceuticals (NYSE:MNK) issued a response today to Sen. Claire McCaskill (D-Mo.) and her probe into the company’s pricing strategies for its injectable pain-killer, Ofirmev. McCaskill wrote to the company at the end of May, suggesting that that the company’s price increases could have cost hospitals millions and may have pushed healthcare practitioners to use cheaper painkillers, including highly […]
Mallinckrodt launches pivotal trial for StrataGraft regenerative skin graft
Mallinckrodt (NYSE:MNK) said today that it enrolled the 1st patient in the pivotal Phase III trial of its StrataGraft skin tissue graft. The study is slated to include patients with 3% to 49% total body surface area of severe thermal burns. Researchers intend to evaluate outcomes including the area of StrataGraft treatment site that requires a subsequent […]
Mallinckrodt mulls sale of generics biz
Mallinckrodt Pharmaceuticals (NYSE:MNK) is reportedly considering a sale of its generic drug unit in an effort to focus its portfolio on high-margin branded drugs, according to a report from Reuters. The divestment comes only months after the company sold its nuclear imaging business to IBA Molecular for $690 million. The sale of its generics business could […]
Mallinckrodt faces probe over price hikes for injectable pain-killer
Sen. Claire McCaskill (D-Mo.) penned a letter to Mallinckrodt Pharmaceuticals (NYSE:MNK) last week, probing for details about the company’s pricing strategies for its injectable pain-killer, Ofirmev. Mallinckrodt acquired Ofirmev in 2014, when it bought Cadence Pharmaceuticals in a $1.4 billion deal. In May of that year, Mallinckrodt hiked the pain-killer’s list price from $14.75 per vial to […]
Mallinckrodt, Marathon leave industry trade group over drug pricing controversy
Marathon Pharmaceuticals reportedly withdrew from the drug industry’s lobbying group yesterday following controversy over its pricey drug, Emflaza. Pharmaceutical Research and Manufacturers of America (PhRMA) began reconsidering its membership criteria as reports revealed a number of drugmakers hiking the prices of their products. In February, Marathon revealed it planned to charge $89,000 a year for […]
Covidien spinout Mallinckrodt closes $690m sale of nuclear imaging biz
Covidien spinout Mallinckrodt plc (NYSE:MNK) said today that it closed the $690 million sale of its nuclear imaging business to IBA Molecular. Mallinckrodt’s nuclear imaging business includes 2 manufacturing facilities and more than 800 employees. The $690 million deal, which was announced in August last year, consists of Mallinckrodt’s portfolio of diagnostic imaging products, including medical isotope […]
Mesoblast gains on A$29m investment deal with Mallinckrodt
Shares in stem cell company Mesoblast Ltd (ASX:MSB) rose 7% to A$1.51 yesterday after it said that it entered into an equity purchase agreement with US drugmaker Mallinckrodt Pharmaceuticals (NYSE:MNK). Mallinckrodt will buy 20.04 million, or nearly 5%, of Mesoblast’s ordinary shares for A$1.48 apiece. According to the agreement, Mallinckrodt will have 9 months to […]
Mallinckrodt touts data for Ofirmev injected acetaminophen
Mallinckrodt Pharmaceuticals (NYSE:MNK) today released results from a clinical pharmacokinetic study evaluating the effect of IV morphine on the absorption of oral acetaminophen, touting the effectiveness of its Ofirmev IV administered acetaminophen over orally administered acetaminophen in adjunct to IV morphine. The results were presented at this year’s Pain Medicine Meeting of the American Society of […]
Covidien spinout Mallinckrodt to ditch nuclear imaging biz for $690m
Former Covidien spinout Mallinckrodt plc (NYSE: MNK) said today it is selling its nuclear imaging business to IBA molecular for $690 million. U.K.-based Mallinckrodt said it is hopeful that the deal will close in the 1st half of the calendar year 2017. “Mallinckrodt’s Nuclear Imaging operation has a long history going back 50 years, and has been a strong […]
Covidien spinout Mallinckrodt to acquire Stratatech
Mallinckrodt plc (NYSE: MNK) said today that it agreed to acquire Stratatech and its StrataGraft artificial skin graft technology for an undisclosed amount. Mallinckrodt, the pharmaceuticals business spun out of Covidien in 2013, said the deal also includes Stratatech’s development program for genetically enhanced skin. The acquisition is expected to close before the end of the year, the Dublin-based company […]