MAYNE PHARMA GROUP LIMITED — Capital/Financing Update 2012

Oct 31, 2012

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1 November 2012

MAYNE PHARMA ANNOUNCES IN-LICENSING AGREEMENT

Mayne Pharma Group Limited (Mayne Pharma; ASX: MYX) is pleased to announce it has signed a licensing and distribution agreement with Intas Pharmaceuticals Ltd (Intas) for a large range of injectable products for the Australian market.

Mayne Pharma will initially gain rights to 11 hospital products. The current market sales of these products are $73m per annum (IMS Health, MAT June 2012) and Mayne Pharma expects to file these products with the Therapeutic Goods Administration (TGA) during the 2013 calendar year. In addition, Mayne Pharma has also secured a right of first refusal for the exclusive distribution of another 30 pipeline injectable products across a range of therapeutic areas with current market sales of $140m per annum (IMS Health, MAT June 2012). To date, there are no generic equivalents to 15 of these pipeline products and the Company expects several of these will be the first generic versions approved. All products will be developed and supplied by Intas from their TGA and US FDA approved facilities.

Mayne Pharma CEO Mr Scott Richards said, “Mayne Pharma is committed to building its domestic business. One of the avenues to achieving this goal is by in-licensing attractive niche products with low competitive dynamics while at the same time delivering cost effective medicines to patients. Furthermore, Intas has a strong and proven injectable development and manufacturing pedigree, having already established a significant injectable franchise in Europe and the US. Following the completion of the acquisition of Metrics, Inc. in mid-November, the Company will also be seeking TGA approval for a number of Metrics’ products in Australia. The launch of these new products is expected to lead to significant revenue and margin uplift of the Mayne Pharma Australia business over the coming years.”

About Intas: Intas is one of the leading vertically-integrated pharmaceutical development, manufacturing and marketing companies headquartered in India. Intas is amongst the top pharmaceutical companies in India and has a presence in over 50 countries worldwide. Intas' global strategy includes alliances with leading companies for development and distribution of products. Intas has made strategic investments in ten manufacturing facilities, globally. Between them, these facilities have received approvals from various prominent international regulatory bodies, including the FDA, TGA and European Medicines Agency (EMA). For further information please visit www.intaspharma.com.

-ENDS-

For further information contact:

Scott Richards +61 8 8209 2410 Lisa Pendlebury +61 419 548 434, lisa.pendlebury@maynepharma.com