Mayne Pharma Group Ltd. (MAYNF)
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Mayne Pharma slumps 30% as Cosette threatens to scrap $432 million deal
Shares of Mayne Pharma plunged 30% on Wednesday after U.S.-based Cosette Pharmaceuticals initiated a review of its A$672 million ($432.1 million) acquisition, citing a "material adverse change" in the Australian firm's business and finances.
Cosette Pharmaceuticals Announces Acquisition of Mayne Pharma, Transforming Company into a Leader in Women's Health and Dermatology
BRIDGEWATER, N.J.--(BUSINESS WIRE)--Cosette Pharmaceuticals, Inc., a U.S.-based, fully integrated, pharmaceutical company, announced today that it has entered into a definitive agreement to acquire all the outstanding shares of Mayne Pharma Group Limited (ASX: Ticker MYX) (Mayne Pharma) at AUD$7.40/share for a total consideration of approximately USD $430 Million. The Boards of Directors of both companies have approved the transaction and Mayne Pharma's Board of Directors has unanimously recomm.
Australia's Mayne Pharma sues Indian drugmaker Sun Pharma over patent infringement
Mayne Pharma has filed a patent infringement lawsuit against Indian drugmaker Sun Pharma in a U.S. court, the Australian drugmaker said on Thursday.
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Mayne Pharma Group Ltd. Profile
| Drug Manufacturers - General Industry | Healthcare Sector | Mr. Shawn Patrick O'Brien B.Sc CEO | OTC PINK Exchange | AU000000MYX0 ISIN |
| AU Country | 450 Employees | 18 Jan 2023 Last Dividend | 18 Jan 2023 Last Split | 29 Jun 2007 IPO Date |
Overview
Mayne Pharma Group Limited is a globally operating specialty pharmaceutical company with a focus on manufacturing and selling both branded and generic pharmaceutical products. Established in 2005 and originally known as Halcygen Pharmaceuticals Limited, it was rebranded to Mayne Pharma in November 2010. The company is headquartered in Salisbury South, Australia, and conducts its operations across diverse geographies including Australia, New Zealand, the United States, Canada, Europe, and Asia. It operates through its four main segments, notably the International Branded Products and Portfolio Product Division, which cater to various therapeutic needs and markets around the world.
Products and Services
- Oral Drug Delivery Systems: Mayne Pharma specializes in the development of advanced oral drug delivery technologies. These systems are designed to improve the efficacy, safety, and patient adherence to pharmaceutical treatments. By enhancing the bioavailability of medications, these delivery systems make it easier for patients to consume and absorb pharmaceuticals, thereby improving overall treatment outcomes.
- Contract Development and Manufacturing Services: Serving third-party customers, Mayne Pharma provides comprehensive contract services that span the development and manufacturing stages of pharmaceutical products. This includes formulation development, analytical testing, and full-scale commercial manufacturing. These services are tailored to meet the unique needs of their clients, ensuring high-quality production of pharmaceuticals.
- Distribution of Specialty Pharmaceutical Products: The company has a strong presence in the distribution of specialty pharmaceutical products across various therapeutic areas, including dermatology, women's health, and infectious diseases. By leveraging its extensive distribution network, Mayne Pharma ensures the availability of critical medications to healthcare providers and patients, addressing unmet medical needs in these areas.
Contact Information
