Mallinckrodt releases fiscal year Q2 results
Biopharmaceutical company Mallinckrodt has released its financial results for the second quarter of the 2016 fiscal year, reporting net sales of $918 million, up more than 12 percent compared to last year.
Acthar net sales came in at $248 million, up more than 8 percent, and INOMAX net sales were $116 million, up more than 13 percent.
“The strength of our growth strategy is evidenced by these results,” Mark Trudeau, Mallinckrodt president and CEO, said in a prepared statement. “We continue to acquire under-resourced assets for underserved patient populations in areas of high unmet medical need. Then we invest in commercial and scientific support for these assets, including generating additional data and sponsoring clinical and health economic studies. By following this strategy and focusing on execution, we are making steady progress and creating near- and long-term value for patients and shareholders.”
The company added that its “Specialty Brands” segment made up more than 58 percent of total company net sales and was up 60 percent, though net sales decreased for the Specialty Generics and Nuclear Imaging segments.
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