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Mayne Pharma Group ( (AU:MYX) ) has issued an announcement.
Mayne Pharma Group Limited is facing potential challenges in its proposed acquisition by Cosette Pharmaceuticals, as the Australian Treasurer has expressed preliminary concerns that the acquisition may not be in the national interest due to potential negative impacts on the Australian economy and community. The Treasurer is particularly concerned about the potential closure of Mayne Pharma’s manufacturing site in Adelaide, which plays a significant role in Australia’s pharmaceutical manufacturing and research capabilities. Mayne Pharma has invested heavily in this site and disagrees with the commercial rationale for its closure. The company is actively engaging with Cosette to address these concerns and expedite the approval process, while also keeping shareholders informed of developments.
The most recent analyst rating on (AU:MYX) stock is a Hold with a A$6.50 price target. To see the full list of analyst forecasts on Mayne Pharma Group stock, see the AU:MYX Stock Forecast page.
More about Mayne Pharma Group
Mayne Pharma is an ASX-listed specialty pharmaceutical company that focuses on commercializing novel pharmaceuticals to provide patients with better, safer, and more accessible medicines. It is a leader in dermatology and women’s health in the United States and offers contract development and manufacturing services globally. With a 40-year history of innovation, Mayne Pharma has successfully developed and commercialized new oral drug delivery systems.
Average Trading Volume: 371,035
Technical Sentiment Signal: Buy
Current Market Cap: A$503.7M
See more data about MYX stock on TipRanks’ Stock Analysis page.