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Mayne Pharma Group ( (AU:MYX) ) just unveiled an update.
Mayne Pharma Group Limited is currently involved in legal proceedings with Cosette Pharmaceuticals regarding a proposed acquisition scheme. The Supreme Court of New South Wales ruled in favor of Mayne Pharma, dismissing Cosette’s claims, but Cosette has filed a notice of intention to appeal. Mayne Pharma is taking steps to implement the acquisition scheme, which remains subject to certain conditions, including court and regulatory approvals. The company is also considering measures to expedite the appeal process and will update the market on any changes to the acquisition timeline.
The most recent analyst rating on (AU:MYX) stock is a Hold with a A$5.00 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 safer and more accessible medicines. The company is a leader in dermatology and women’s health and offers contract development and manufacturing services globally. With a 40-year track record, Mayne Pharma has successfully developed and commercialized new oral drug delivery systems worldwide.
YTD Price Performance: -1.41%
Average Trading Volume: 446,173
Technical Sentiment Signal: Sell
Current Market Cap: A$398.1M
For detailed information about MYX stock, go to TipRanks’ Stock Analysis page.