By Digifin Pty Ltd · About this coverage
Key Points
- Binding agreement to sell Mayne Pharma International to Evaris Pharma for $55.5 million cash
- Consideration is 0.79x MPI FY26 revenue of $70.7 million and 12.1x FY26 direct contribution of $4.6 million
- Mayne Pharma keeps its US Women's Health and Dermatology businesses and DistributeRx
- Completion expected in 3Q FY27, subject to ACCC approval; no FIRB or shareholder approval needed
About Mayne Pharma (ASX:MYX)
Mayne Pharma Group Limited is an ASX-listed specialty pharmaceutical company headquartered in Adelaide. It commercialises dermatology and women's health medicines, primarily in the United States, and operates a direct-to-patient prescription distribution platform through its licensed pharmacy, Adelaide Apothecary. The company also provides contract development and manufacturing services to clients worldwide.
Mayne Pharma (ASX:MYX) has agreed to sell its international segment, Mayne Pharma International Pty Ltd (MPI), to an entity owned by General Pharma Bidco Pty Ltd (Evaris Pharma), a step it says completes its transition to a specialty pharmaceutical company 100% focused on the United States.
Under a binding Share Sale Agreement, Evaris Pharma will pay cash consideration of $55.5 million at completion, subject to customary adjustments for working capital. The company states the headline consideration represents 0.79x MPI's FY26 revenue of $70.7 million and 12.1x FY26 direct contribution of $4.6 million. MPI comprises the contract development and manufacturing operations and the Australian and international commercial operations, centred on the Salisbury, South Australia facility. Mayne Pharma retains its US Women's Health and Dermatology businesses, including the DistributeRx direct-to-patient platform. The parties have agreed terms of a supply agreement for continued manufacture of DORYX MPC and TOLSURA at Salisbury, plus transitional services and brand licence agreements. The sale follows a portfolio review the Board began after termination of the Scheme Implementation Deed in December 2025. The transaction is not subject to a financing condition, FIRB approval or shareholder approval.
Completion is expected in 3Q FY27 and is subject to customary conditions, including an ACCC determination permitting completion under the mandatory merger notification regime. The release does not state a specific use of proceeds or the expected accounting gain or loss on the sale.
Source: Mayne Pharma Group Limited (ASX:MYX), 6 November 2026. Summary content supplied by Digifin Pty Ltd.
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