BRIEF — Mallinckrodt drug fails in Niemann-Pick Type C

UK-incorporated Mallinckrodt (NYSE: MNK) has missed the primary endpoint of a Phase IIb/III study of VTS-270 for the treatment of Niemann-Pick Type C, a rare genetic condition.

The drug, which Mallinckrodt acquired as part of its $1.2 billion buy of Sucampo Pharmaceuticals last year, showed no significant improvement on placebo.

Mallinckrodt will continue to review the data and consider the best path forward for VTS-270.