Mallinckrodt Drops on Mention by Valeant Foe Citron Research
- Drugmaker `far worse offender' of reimbursement system: Citron
- Mallinckrodt doesn't have a stake in specialty pharmacies
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Mallinckrodt Plc shares plummeted after the drugmaker was mentioned on Twitter by Citron Research, the stock-commentary site whose scrutiny helped lead to a rout of Valeant Pharmaceuticals International Inc.’s stock.
Mallinckrodt has “significantly more downside” than Valeant and is “a far worse offender” of the reimbursement system, Citron said in a tweet. The firm, led by short-seller Andrew Left, said it would have “more to follow,” without providing details.