Summed it up perfectly! The bump in the stock was the people covering their losses. I truly believe that stock will zero out by the end of the year. Purdue is no longer trading stock. The same thing will happen to MNK. Investors playing the long game will never recover their losses. It is laughable that MH was going around telling employees to invest in MNK stock. They overspent for companies and now they are settling for pennies on the dollar for the amount of money they purchased for those companies. Talking about poor leadership decisions. Acthar and Opioid lawsuits will put this organization under the ground. We are already 5 billion dollars in debt which payments are due in 2020.
R&D pipeline products are a bust. MNK needs the cash and will do everything necessary to free up the monies for these lawsuits. The Ohio case will be ugly and they know it. MNK outsold their opioid competitors by 3:1 from 2012 - 2017. Projects will be the first to get cut. We can afford to invest in a pipeline when the possibility of approval is years away. When they officially kill those projects start heading towards the doors. Hell people should be heading towards the doors now as you say 1 week pay for every 1 year isn't worth sticking around for that severance. A lot of people are waiting for their package. Those people are crazy! It is better to find another job while you have a job then to wait for a package. There are a lot of managers/directors with no direct reports. They were handing out fancy titles as if they were candy. Mark my words, it will be a bloodbath by the end of the year. An early Christmas gift to employees for the holidays. Best of wishes cause we will need it.