Mallinckrodt (MNK) Tops Q4 EPS by 27c

Mallinckrodt (NYSE: MNK) reported Q4 EPS of $1.68, $0.27 better than the analyst estimate of $1.41. Revenue for the quarter came in at $789 million versus the consensus estimate of $757.9 million.

Strong net sales were driven by the inclusion and performance of H.P. Acthar Gel (Acthar) repository corticotropin injection and OFIRMEV (acetaminophen) injection, acquired in August 2014 and March 2014, respectively, and continuing strength in its base Specialty Controlled Substance Generics portfolio.

“We had a solid quarter in what was a strong year for Mallinckrodt, and believe that we are well-positioned strategically and financially for long-term success,” said Mark Trudeau, Chief Executive Officer and President, Mallinckrodt. “The meaningful top-line and bottom-line growth we achieved is being driven by strength in our Specialty Pharmaceuticals segment in both the Brands and Specialty Controlled Substance Generics portfolios, paired with streamlined costs from our ongoing restructuring initiatives. We continue to be pleased with the performance of our Specialty Pharmaceuticals business, including the growth we have seen with OFIRMEV and the promise of Acthar now that it has been added to the portfolio in the fourth quarter.”

For earnings history and earnings-related data on Mallinckrodt (MNK) click here.

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