Mayne Pharma (ASX:MYX) is set to return to the Supreme Court of New South Wales next month to recover legal costs from its failed $672 million takeover by US-based Cosette Pharmaceuticals.
The legal battle follows a turbulent period for the Adelaide-founded healthcare group, which saw its share price collapse to $2.80—just a third of Cosette's original $7.40-a-share offer—after Treasurer Jim Chalmers blocked the deal on national interest grounds in November 2025.
At the Jan. 29 annual general meeting, the company narrowly avoided a "first strike" on its remuneration report, with 22.47% of shareholders voting against executive pay.
Chairman Bruce Robinson, who recently replaced Frank Condella, faced a frustrated audience as he pledged to restore value through improved cash generation.