Mallinckrodt (MNK) Tops Q2 EPS by 12c; Reiterates Outlook

Mallinckrodt (NYSE: MNK) reported Q2 EPS of $1.85, $0.12 better than the analyst estimate of $1.73. Revenue for the quarter came in at $824.5 million versus the consensus estimate of $829.82 million.

"Mallinckrodt delivered another solid quarter, executing against our strategy to become a high-performing, specialty pharmaceutical company," said Mark Trudeau, Chief Executive Officer and President, Mallinckrodt. "We have made notable progress this quarter in advancing our organic pipeline in Specialty Brands and Specialty Generics. In addition, most recently we announced our planned acquisition of InfaCare and its new chemical entity stannsoporfin, a unique drug in late-stage development for treatment of severe hyperbilirubinemia, or jaundice, in newborns."

"Mallinckrodt continues to build a differentiated, durable portfolio of branded therapies and with this addition, in particular, we are further benefiting fragile pediatric patients and the healthcare system today and in the future," Trudeau concluded.

GUIDANCE:

Mallinckrodt maintains FY2017 EPS of $7.40-$8.00.

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

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