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Tag: mayne pharma

  • Winners and Losers: SA’s Mayne Pharma dives as US deal controversy continues

    Winners and Losers: SA’s Mayne Pharma dives as US deal controversy continues

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    David Simmons
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    Mayne Pharma shares fell by more than 30 per cent in one day of trading last week after it released details about a letter sent to the SA company’s suitor detailing Federal Treasurer Jim Chalmers thoughts on a proposed takeover. The SA-based pharmaceutical business was currently embroiled in a takeover by US-based Cosette, which was…

  • SA pharmaceutical firm pays $38 million to settle class action

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    Mayne Pharma settled the shareholder class action with a $38 million payment but without any admission of liability by the company concerning alleged anti-competitive conduct in the US and misleading or deceptive conduct to shareholders. Law firm Phi Finney McDonald filed the class action in August 2021 on behalf of shareholders who held company shares…

  • Winners and Losers: Shareholders punish Mayne Pharma for full year loss

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    Salisbury-based Mayne Pharma is worth $105 million less as of 1 September than it was a week prior, after shareholders savaged the pharmaceutical company for its worsening losses in the last financial year. Shares fell 27.37 per cent over the course of last week, leading to the company’s market cap falling from $392.19 million to…

  • Mayne Pharma losses blow out to $317 million

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    While Mayne Pharma’s revenue received a bit of a boost to $183.6 million in the fiscal year, net losses worsened by 44 per cent to $317.4 million. CEO Shawn Patrick O’Brien says the company has been ‘successfully refocused’ around core areas of women’s health, dermatology and its international operations during the year. As such, FY23…

  • Adelaide pharma workers go on strike

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    The United Workers Union and the Communications, Electrical and Plumbing Union announced this morning that advanced manufacturing workers at Mayne Pharma began strike action at 6am today in response to a “below-inflation pay offer”. The stop work, which includes a rally outside Mayne Pharma’s Salisbury South headquarters, will last for 24 hours. The industrial action…

  • Mayne Pharma records another loss ahead of restructure

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    The Salisbury South drug manufacturer told the ASX on Friday the loss could be attributed to intangible asset impairments, deferred tax asset write downs and the continued poor performance of its generic retail drugs – a longstanding problem for the company. Mayne Pharma also pointed to the significant investments it has made into the commercial…

  • Mayne Pharma in $679m US sell off

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    The Salisbury South-based drug manufacturer announced on the ASX this morning the $A679m ($US475m) sale of Metrics Contract Services, the company’s oral dose drug development and manufacturing site in Greenville, North Carolina, which employs more than 400 staff. The business has been acquired by US pharmaceutical multinational Catalent. The New Jersey-based corporation is currently ranked…

  • Mayne Pharma banks on new pill to restore financial health

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    The Salisbury-South pharmaceutical manufacturer announced on the ASX last week that its short-acting oestrogen and progestin contraceptive pill, Nextstellis, had been given final approval from the TGA and was expected to enter the Australian market by mid-2022. The “first of its kind” drug was developed by Belgian-based women’s health company Mithra Pharmaceuticals and contains 14.2…

  • Mayne Pharma gets FDA tick for contraceptive pill

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    The Salisbury South company, which also has significant operations in the United States, said it expected the combined oral contraceptive pill – called Nextstellis – to hit the US market by June 30. The short-acting oestrogen and progestin contraceptive pill was developed by Belgian women’s health biotech company Mithra, and contains 15mg of estetrol, a…

  • Mayne Pharma reports $92 million loss

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    The Salisbury South company, which also has significant operations in the United States, reported a 13 per cent fall in revenues to $457 million. This was impacted by COVID-19 through lower patient visits to physicians during lockdowns resulting in a fall in prescriptions. The company recently announced a licensing agreement with a Belgian-based biotech company…