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Mallinckrodt plc Buyback

OLI recorded this information on 3/1/2017

Company: Mallinckrodt plc
Buyback: MNK buyback
$Amount Authorized: $1,000,000,000
Buyback Details: Mallinckrodt's Board of Directors authorized an incremental $1.0 billion repurchase of ordinary shares, reflecting the company's ongoing strong performance and future prospects. This authorization is in addition to prior authorizations approved by the Board, provides significant additional capacity to acquire shares within the company's capital allocation framework, and recognizes the company's commitments to all stakeholders. The share repurchase program is open-ended in time.

Mallinckrodt develops, manufactures, markets and distributes specialty pharmaceutical products and therapies. Areas of focus include autoimmune and rare disease in areas like neurology, rheumatology, nephrology, pulmonology and ophthalmology, immunotherapy and neonatal respiratory critical care therapies, analgesics and gastrointestinal products. Co. operates its business in two reportable segments: Specialty Brands, which markets branded pharmaceutical products for autoimmune and rare diseases; and Specialty Generics, which includes specialty generic drugs and active pharmaceutical ingredients.
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Company Name: 
Mallinckrodt Plc
Stock buyback: 
MNK buyback
Drugs & Pharmaceuticals

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Sell (1.12 out of 4)
82nd percentile
(ranked higher than approx. 82% of all stocks covered)
Based on Zacks ABR data;
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