News

Mayne Pharma’s CEO, Mr Shawn Patrick O’Brien said, “Fiscal year 2023 has been one of significant change at Mayne Pharma."

Mayne Pharma’s CEO Mr. Shawn Patrick O’Brien said: “The past seven months have been a period of significant change for the Company, beginning with the October sale of our Greenville-based Metrics Contract Services, followed by the acquisition of the US commercial rights for TherapeuticsMD’s women’s health assets. With the recent sale of our retail generics business to Dr. Reddy’s, we are successfully executing on our strategy to become a more focused company, with growth potential while repaying debt, paying shareholders a special dividend, and strengthening our cash position in the process.”

Mayne Pharma’s CEO Mr Shawn Patrick O’Brien said: “The divestiture of our US retail generics portfolio is yet another milestone in the transformation of Mayne Pharma into a specialty pharmaceutical company in the US women’s healthcare and dermatology markets. We are excited by the significant opportunities to drive operational, commercial and financial improvements across our US women’s health and dermatology businesses, as well as in our International business. Our stated objectives remain to return the Company to profitability,to generate operating cash flow that supports further growth and to drive improved returns for our shareholders.”

Mayne Pharma’s CEO, Mr Shawn O'Brien said, “The performance of our business during the first half of FY23 is categorized by building momentum in our Branded Products Division."

Mayne Pharma’s CEO Mr. Shawn Patrick O’Brien said: “Divesting the retail generics portfolio is an important step forward for the Company as we continue to rationalise our portfolio. With this transaction, we free up working capital, allowing us to more exclusively focus resources on core areas of value for business growth, namely our branded verticals in US women's health and dermatology."

Mayne Pharma Group Limited has signed an exclusive license agreement with TherapeuticsMD, Inc. a NASDAQ listed company for three branded women’s health products and a portfolio of prenatal vitamins in the US (License Agreement)

Mayne Pharma Group Limited (ASX: MYX) is pleased to announce that following completion of the sale of Metrics Contract Services (Metrics) it intends to return up to $113 million to shareholders, through a combination of cash distributions.

Mayne Pharma Group Limited is pleased to announce the completion of the sale of Metrics Contract Services (Metrics) to Catalent Pharma Solutions, Inc. for US$475 million (approximately A$722 million at current exchange rates).

Mayne Pharma Group Limited is pleased to announce it has appointed Mr Shawn Patrick O’Brien as Chief Executive Officer and Managing Director effective 1 October 2022. This follows from the previously announced retirement of Mr Scott Richards and a comprehensive search for a successor.