Gloomy First Half Results For Mayne
While Restructuring Gains Pace With $90m Generics Selloff
Revenue falls 33% over the half year for the ailing Australian pharmaceutical as it pivots from generics to the branded market
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Mayne Pharma and Dr Reddy’s have announced the completion of a deal that will see the Indian company take over the Australian firm’s US generics business.
Dr Reddy’s has struck a deal to pay at least $90m for the US prescription generics portfolio of Mayne Pharma. The transaction covers products including Mayne’s recently-launched rival to NuvaRing.
Mayne Pharma enters an exclusive US license agreement with TherapeuticsMD for the latter’s women’s health portfolio. Whether the deal will boost their precarious finances is an open question.