Mallinckrodt raises full-year forecast after smaller loss

Thu Aug 7, 2014 7:27am EDT

Aug 7 (Reuters) - Specialty drugmaker Mallinckrodt Plc reported a smaller quarterly loss and raised its full-year profit and revenue forecast, citing strong sales of its recently acquired pain drug Ofirmev.

Mallinckrodt reported a net loss of $24.1 million, or 41 cents per share, for the third quarter ended June 27, compared with $27.9 million, or 48 cents per share, a year earlier.

On an adjusted basis, the company earned $1.20 per share.

Revenue jumped 14.6 percent to $653.1 million.

The company said it expects full-year earnings of $4-$4.3 per share on revenue of $2.35 billion-$2.45 billion. It had earlier forecast 2014 earnings of $3.30-3.60 per share on revenue of $2.28 billion-$2.38 billion. (Reporting by Anand Basu in Bangalore; Editing by Joyjeet Das)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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