Mallinckrodt initiated at Berenberg

Mallinckrodt initiated with a Sell at Berenberg. Berenberg analyst Patrick Trucchio initiated Mallinckrodt with a Sell and $25 price target due to opioid exposure. Trucchio said the company faces over 100 opioid-related lawsuits which could end with a large settlement and limit or prevent the sale of its opioid generics business. Further, he believes Acthar could be pressured following the adverse analyses published by JAMA and from new and emerging MS treatments with less relapses.
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