Mayne Pharma sells international division for $55.5M
Key points
- Mayne Pharma agreed to divest its international segment to Evaris Pharma for $55.5 million in cash.
- Shares surged following the announcement as investors digested the cash injection and streamlined business model.
- The asset sale completes the pharmaceutical firm's total structural focus on the US market.
Mayne Pharma (ASX:MYX) has entered into a binding agreement to sell its wholly owned subsidiary Mayne Pharma International to Evaris Pharma for $55.5 million in upfront cash.
The sale price reflects 0.79 times Mayne Pharma International's FY26 revenue of $70.7 million and 12.1 times its FY26 direct contribution of $4.6 million.
The provided announcement contained no direct executive quote from Mayne Pharma management regarding the divestment.
The transaction is structured as a share sale requiring Australian Competition and Consumer Commission approval, with completion expected in the third quarter of FY27.
Following the announcement, the Mayne Pharma share price was up at $3.00.
The company stated that the divestment completes its transition into a specialised pharmaceutical business focused entirely on the United States.
Mayne Pharma will maintain its core US operations in women's health and dermatology while retaining its proprietary DisrupterRx direct-to-patient platform.
