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Mallinckrodt rebounds from yesterday's sell-off; CEO defends Acthar price on CNBC; Left's interview fails to attract bears; shares up 8%

Nov. 10, 2015 1:30 PM ETMallinckrodt plc (MNKTQ) StockBHC, MNKTQBy: Douglas W. House, SA News Editor25 Comments
  • On CNBC, Mallinckrodt (MNK +7.9%) CEO Mark Trudeau said the cost of Acthar Gel is a good value compared to the alternative treatments for the (19) indications on the product's label considering the limited treatment options for patients. The costs of the treatments are far greater than the cost of Acthar which, according to Mr. Trudeau, is the view of payers. He also says his firm's business model is unique and should not be compared to Valeant's (VRX -0.9%).
  • The stock spiked upward (undoubtedly due to short covering) during Andrew Left's interview during CNBC's Halftime Report today after he failed to provide more "smoking gun" evidence on MNK despite saying that "MNK is worse than VRX."
  • Citron Research's has yet to publish its report on the company. Shares dropped 17% yesterday in response to a Citron tweet that stated MNK had significantly more downside risk than VRX.

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