The analyst had previously stuck with his bullish view on the premise that the shares were undervalued and due to hopes the company can ultimately emerge from the opioid-related uncertainties and the significant pressure faced by its key Acthar
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or misleading statements and/or failing to disclose that: (1) Acthar
posed significant safety concerns that rendered it a non-viable treatment for ALS; (2) accordingly, Mallinckrodt overstated the viability of Acthar
as an ALS treatment; and (3) as a result, the Company's public statements were materially false and misleading at all relevant times.
'We're pleased to have delivered a strong first half of the year, highlighted by the solid operational performance of all hospital products, AMITIZA, and the Specialty Generics segment, along with good progress on our Acthar
Gel data generation efforts,' said Mark Trudeau, President and Chief Executive Officer of Mallinckrodt.
Mallinckrodt announced that it is permanently discontinuing its Phase 2B study designed to assess the efficacy and safety of Acthar
Gel as an investigational treatment for amyotrophic lateral sclerosis, or ALS.
Gel which generated an estimated USD 1.2bn in net sales for the twelve-month period ending June 30th, 2017.
One drug, HP Acthar
Gel, was dropped from the analysis because its sharp one-time retail price increase (more than 1,300%) in 2007 distorted the overall trends, AARP reported.
Gel from $40 per vial to more than $34,000 per vial after acquiring the drug in 2001.
Gel (repository corticotrophin injection) and Therakos Immunotherapy platform, OFIRMEV (acetaminophen injection), and INOMAX (nitric oxide) gas, for inhalation.
Gel, Mallinckrodt Pharmaceutical) [32, 33] It appears to have efficacy that may exceed that of glucocorticoids, perhaps because of interaction of the melanocortin receptor, MC1R [33-35].
Gel in patients with Amyotropic Lateral Sclerosis
") and controlled substances, both of which also carry exogenous risks.