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Mayne Pharma Group ( (AU:MYX) ) just unveiled an announcement.
Mayne Pharma Group Limited has submitted an application to the Panel regarding its affairs, following a series of events related to its acquisition by Cosette Pharmaceuticals, Inc. The acquisition, valued at $7.40 per share, faced challenges including allegations of a Material Adverse Change and issues with continuous disclosure obligations. Despite these challenges, the NSW Supreme Court ruled in favor of Mayne, invalidating Cosette’s termination notices. However, the acquisition’s future remains uncertain as the Treasurer expressed concerns that it may negatively impact the Australian economy and community, potentially affecting the national interest.
The most recent analyst rating on (AU:MYX) stock is a Sell with a A$4.50 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 Group Limited is an ASX-listed pharmaceuticals company primarily operating in the United States, with a significant presence in Australia, including a manufacturing site in Salisbury, South Australia. The company employs over 200 people and focuses on the pharmaceutical industry.
Average Trading Volume: 440,900
Technical Sentiment Signal: Sell
Current Market Cap: A$372.1M
See more data about MYX stock on TipRanks’ Stock Analysis page.