Mallinckrodt Falls After Appeal Loss Over Praxair’s INOmax Copy

Mallinckrodt Plc fell to a record low after it lost an appeals court bid to revive patent-infringement claims over a generic version of the INOmax infant-respiratory treatment by Linde Plc’s Praxair.

The U.S. Court of Appeals for the Federal Circuit affirmed a trial court’s ruling that Praxair’s version wouldn’t infringe some Mallinckrodt patent claims, while claims of other patents are invalid. The appeals court did remand the case to correct a “clerical error” in which aspects of the patents that hadn’t been asserted in the case were included in the final judgment.

Mallinckrodt fell 13% to $3.66 at 12:03 p.m., ...