Approvals, Acquisitions, Note Redemptions and Invitations to Conferences - Research Report on Mylan, Warner Chilcott, Salix Pharmaceuticals, Mallinckrodt, and Akorn

Mon Sep 2, 2013 8:01am EDT

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Approvals, Acquisitions, Note Redemptions and Invitations to Conferences - Research Report on Mylan, Warner Chilcott, Salix Pharmaceuticals, Mallinckrodt, and Akorn

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PR Newswire

NEW YORK, September 2, 2013 /PRNewswire/ --

Today, Analysts' Corner announced new research reports highlighting Mylan, Inc. (NASDAQ: MYL), Warner Chilcott plc (NASDAQ: WCRX), Salix Pharmaceuticals Ltd. (NASDAQ: SLXP), Mallinckrodt plc (NYSE: MNK), and Akorn, Inc. (NASDAQ: AKRX). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.

Mylan, Inc. Research Report

On August 22, 2013, Mylan, Inc. (Mylan) confirmed that the U.S. Food and Drug Administration (FDA) has approved its supplemental Abbreviated New Drug Application (sANDA) for Bupropion Hydrochloride (HCl) Extended-release (ER) Tablets USP (XL), 300 mg. According to the Company, it was granted approval after it provided bioequivalence study results requested by the FDA. According to the Company, Bupropion HCl ER Tablets USP (XL), the generic version of WELLBUTRIN XL, are prescribed for the treatment of major depressive disorder (MDD). As per IMS Health, Mylan currently has 179 ANDAs pending FDA approval representing $84 billion in annual sales, of which 42 are potential first-to-file opportunities, representing $23.8 billion in annual brand sales, for the 12 month period ended December 31, 2012. The Full Research Report on Mylan, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/5a20_MYL]

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Warner Chilcott plc Research Report

On August 9, 2013, Warner Chilcott plc (Warner Chilcott), along with Actavis, Inc. (Actavis), announced that they have received approval from the French Competition Authority for Actavis' pending acquisition of Warner Chilcott. Warner Chilcott added that they had previously received approval from the German Federal Cartel Office and now received all ex-U.S. antitrust clearances needed in order to finalize the transaction. The Full Research Report on Warner Chilcott plc - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/35cc_WCRX]

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Salix Pharmaceuticals Ltd. Research Report

On August 20, 2013, Salix Pharmaceuticals Ltd. (Salix Pharmaceuticals) announced that holders of the Company's 5.5% Convertible Senior Notes due 2028 (the Notes) have been informed that Salix Pharmaceuticals will redeem all outstanding Notes on September 23, 2013. In lieu of having their Notes redeemed, holders can convert such Notes by surrendering them for conversion no later than the close of business on September 20, 2013, and satisfying the other requirements set forth in the Notes and the Indenture, dated as of August 22, 2008, between the Company and the U.S. Bank National Association, as trustee. Salix Pharmaceuticals also stated that it intends to reimburse any converting holders cash for the face or par value of their notes and issue common stock of the Company for the remaining conversion value of the Notes. The Full Research Report on Salix Pharmaceuticals Ltd. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/04fa_SLXP]

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Mallinckrodt plc Research Report

On August 28, 2013, Mallinckrodt plc (Mallinckrodt) announced that it will present the first clinical data on MNK-795 at PAINWeek 2013 event, to be held in Las Vegas from September 4, 2013 to September 7, 2013. According to the Company, MNK-795, an extended-release oral formulation of oxycodone and acetaminophen, has been assessed in clinical trials intended to manage moderate to severe acute pain where the use of an opioid analgesic is appropriate. On July 29, 2013, Mallinckrodt had reported that the U.S. Food and Drug Administration (FDA) accepted for filing the New Drug Application for MNK-795 and granted priority review. Mark Trudeau, President and CEO of Mallinckrodt, commented, "We are pleased to share the first results from our MNK-795 clinical development program which, if approved, could be a critical milestone for us as an independent specialty pharmaceuticals company. Mallinckrodt's investment in MNK-795 exemplifies our longstanding commitment to provide medications for the treatment of patients with acute pain." The Full Research Report on Mallinckrodt plc - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/24f6_MNK]

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Akorn, Inc. Research Report

On August 27, 2013, Akorn, Inc. (Akorn) announced that it has finalized an agreement to acquire Hi-Tech Pharmacal Co., Inc. (Hi-Tech) for $640 million in cash or $43.50 per share. According to Akorn, it expects to generate between $15 million and $20 million in annual run-rate synergies within 12 months of close. Commenting on the acquisition, Raj Rai, Akorn's CEO, stated, "This is a transformative event for our company. The portfolio of Hi-Tech products is a great strategic fit to our currently marketed products as it diversifies our offering to our retail customers beyond ophthalmics to other niche dosage forms such as oral liquids, topical creams and ointments, nasal sprays and otics. In addition, we are excited about Hi-Tech's product pipeline which would further enhance growth opportunities for the combined platform." The Full Research Report on Akorn, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/900c_AKRX]

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