Shares of Mallinckrodt Pharmaceuticals up 0.5% after company announces generics business spin-off [MarketWatch]
Medtronic plc. Ordinary Shares (MDT)
Last medtronic plc. ordinary shares earnings: 2/18 06:45 am
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Source: MarketWatch
Shares of Mallinckrodt Pharmaceuticals up 0.5% after company announces generics business spin-off Shares of Mallinckrodt PLC MNK, -0.99% were up 0.4% in premarket trade Thursday after the company announced it was planning to spin off its generics business to its shareholders. The spin-off, which is projected to be completed in the second half of 2019, will result in two publicly traded companies, Mallinckrodt said: A generics-focused company that will assume the Mallinkrodt name and ticker, and a second company that will focus on specialty pharmaceutical brands and will be renamed at a later date. The newly spun-off company will be led by Mark Trudeau, Mallinckrodt's current president and CEO. The remaining business will be helmed by current CFO Matthew Harbaugh. Shares of Mallinkrodt have gained 2.6% in the year to date, while the S&P 500 SPX, -1.40% has gained 1%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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MDT
Sec Filings
- 4/9/24 - Form 4
- 3/7/24 - Form 4
- 2/27/24 - Form 10-Q
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