Categories Earnings, Health Care

Mallinckrodt plc (MNK): Q4 2019 Earnings Snapshot

pharma stocks
Image for representation (Photo by Drew Hays on Unsplash)

—  Mallinckrodt plc (NYSE: MNK) reported fourth-quarter 2019 earnings of $2.40 per share, vs. $2.05 per share expected.

— Q4 net sales fell 3.6% to $804.9 million, vs. $772.5 million expected. The topline was helped by strong performance across hospital products and the Specialty Generics segment.

— Company says it has reached an agreement for a global settlement with a broad-based group of plaintiffs that would resolve all opioid-related claims. It would also take actions to address near-term maturities to strengthen capital structure.

 — MNK shares jumped over 20% immediately following the announcement.

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