Shares of health care products maker Mallinckrodt rise on earnings outlook

MarketsAssociated Press

Shares of Mallinckrodt PLC rose Tuesday after the health care products maker posted an earnings outlook for next year that beat Wall Street expectations.

The Dublin-based company expects adjusted earnings between $6.70 per share and $7.20 per share for the fiscal year ending Sept. 25, 2015. Analysts expected earnings of $6.64 per share, according to FactSet.

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Mallinckrodt said it expects revenue between $3.65 billion to $3.75 billion. Analysts expected revenue of $3.7 billion.

In August, Mallinckrodt completed a $5.8 billion acquisition of California-based Questcor Pharmaceuticals Inc. Questcor makes a medication used in the management of autoimmune and inflammatory conditions.

Shares of Mallinckrodt rose 56 cents to $86.67 in morning trading Tuesday after rising as high as $89.21 earlier. Its shares have nearly doubled over the past year.