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MAYNE PHARMA GROUP LIMITED — Capital/Financing Update 2016
Aug 2, 2016
65396_rns_2016-08-02_63d2ede7-72fb-47b3-88d4-d5668a603344.pdf
Capital/Financing Update
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ASX Announcement
MAYNE PHARMA COMPLETES ACQUISITION OF US GENERIC PRODUCT PORTFOLIO FROM TEVA AND ALLERGAN
3 August 2016, Adelaide, South Australia: Mayne Pharma Group Limited (ASX: MYX) is pleased to announce the completion of the acquisition of the US generic product portfolio from Teva Pharmaceutical Industries Limited and Allergan plc for US$652m. The acquisition, announced on 28 June 2016, was funded by the proceeds of an underwritten equity raising and an increase in existing debt facilities.
Mayne Pharma CEO Mr Scott Richards said, “We are very pleased to have completed this acquisition that establishes Mayne Pharma as a key player in the US generic pharmaceutical market. This highly attractive and complementary on-market portfolio of products is expected to provide a stable base of revenue and earnings with growth to come from a combination of the launch of pipeline products and the extraction of revenue and cost synergies over time.”
For further information contact:
Lisa Pendlebury +61 419 548 434, [email protected]
About Mayne Pharma
Mayne Pharma is an ASX-listed specialty pharmaceutical company focused on applying its drug delivery expertise to commercialise branded and generic pharmaceuticals. Mayne Pharma also provides contract development and manufacturing services to more than 100 clients worldwide.
Mayne Pharma has a 30-year track record of innovation and success in developing new oral drug delivery systems and these technologies have been successfully commercialised in numerous products that have been marketed around the world.
Mayne Pharma has two product development and manufacturing facilities based in Salisbury, Australia and Greenville, NC, USA with expertise in formulating complex oral dose forms including highly potent compounds, controlled substances, modified release products and inherently unstable compounds.
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