Mallinckrodt (MNK) Stock | Impressive Fiscal 2015 Q4 and Full Year Financial Results


Mallinckrodt Public Limited Company (NYSE: MNK)


Mallinckrodt Public Limited Company (MNK), a specialty biopharmaceutical company yesterday reported positive fiscal 2015 fourth quarter and full year financial results. Net Sales for fourth quarter 2015  were $882.4 million an increase of 31% over fourth quarter 2014.  Full Year Net Sales were 3.347 billion an increase of 60.8% over the prior year.


Mallinckrodt Public Limited Company CEO Comments

“2015 was another pivotal year for Mallinckrodt. We were particularly pleased that fourth quarter and full year net sales were driven by volume growth,” said Mark Trudeau, President and Chief Executive Officer. “Mallinckrodt’s successful ‘acquire to invest’ growth strategy differentiates us from other specialty pharmaceutical companies as we typically focus on acquiring highly durable, under-resourced therapies that offer effective treatment alternatives for small, underserved and poorly penetrated patient populations.”

“After acquiring assets, we enhance them with time-proven methods that have created value in the pharmaceutical industry for decades. We invest in manufacturing modernization, lifecycle management and label enhancement,” Trudeau continued, “and, most importantly, we focus on generating strong clinical and health economic evidence to further emphasize the effectiveness of our products. With these investments, our goal is to improve patient outcomes, reach new patients in appropriate populations, and increase value for the healthcare system.”  PR Newswire


MNK Technical Analysis


MNK gapped up in price yesterday to $65.80, up from the prior day’s close of $61.00, which is an 8% increase on the favorable news. Taking a look at the daily chart, we can see the last time MNK traded above this price level was on November 6th, when it closed at $69.89. On that occasion, only three days later it reached lows of $52.01, equivalent to a 26% drop in price. Taking a further look back on the daily chart, we can see that MNK has been on an overall decline dating back to August 3rd when it traded at $124.21.  As we can see, MNK can be very volatile. The next significant resistance level would be $70 which was reached three times recently on October 29th, November 3rd and 6th. MNK does have a float of 110.2 million shares and was trading below the normal daily average. MNK did reach pre market highs of $66.64, but gave back $0.84 at the open, or equivalent to 1%. For trading purposes, my entry point would have been $65.90 looking for a run to the pre market highs of $66.64. My stop loss would have been $65.75, fearing anything below that and the stock would start to fill in the gap up.


Company Profile

Mallinckrodt Public Limited Company develops, manufactures, markets, and distributes specialty pharmaceutical products and medical imaging agents worldwide. The company operates through two segments, Specialty Pharmaceuticals and Global Medical Imaging. The Specialty Pharmaceuticals segment provides Acthar, an injectable biopharmaceutical drug for use in various indications, including neurology, rheumatology, nephrology, and pulmonology; Ofirmev and Xartemis XR for pain indications; EXALGO extended-release tablets to treat chronic pain; and GABLOFEN injections for use in the management of spasticity of cerebral. It also offers generics and active pharmaceutical ingredients (API), such as hydrocodone and hydrocodone-containing tablets, oxycodone and oxycodone-containing tablets, and methylphenidate HCl extended-release tablets,medicinal opioids, synthetic controlled substances, acetaminophen products, and other active ingredients. The Global Medical Imaging segment provides contrast media and delivery systems comprising ioversol and gadoversetamide injections for diagnostic imaging applications under the Optiray and Optimark brand names with pre-filled syringes and power injectors to the hospitals and imaging centers. It also offers nuclear imaging products consisting of technetium-99m generators under the Ultra-Technekow DTE brand and Octreoscan kits for localization of tumors. The company markets its products to physicians, specialty pharmacies, radiologists, and radiology technicians, as well as distributes its products to drug wholesalers, retail pharmacy chains, hospital networks, ambulatory surgical centers, and governmental agencies; sells and distributes APIs directly or through distributors to other pharmaceutical companies; and markets and distributes nuclear imaging products to radiopharmacies and hospitals. Mallinckrodt Public Limited Company was incorporated in 2013 and is based in Dublin, Ireland. Yahoo Finance