Mallinckrodt's acquisitions pay off, as first quarter fiscal 2015 income doubles
Ireland-based pharma company Mallinckrodt (NYSE: MNK) reported significantly higher income in the first quarter of the 2015 fiscal year (ended December 31, 2014) than in the same period last year. Net sales were $866.3 million compared with $540.2 million in the first quarter of fiscal 2014, an increase of 60.4%.
The increase was primarily driven by the acquisitions of inclusion and performance of Acthar (repository corticotropin injection) and Ofirmev (acetaminophen) injection in August 2014 and March 2014, respectively.
Net income was $92.7 million, doubling the $45.6 million income in the same quarter last year. Mallinckrodt’s earnings per share stood at $0.79 per share, a slight increase on $0.78 in the first quarter of fiscal 2014.
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