Mayne Pharma Shareholders Approve Acquisition by Cosette Pharmaceuticals

An update from Mayne Pharma Group ( (AU:MYX) ) is now available.

Mayne Pharma Group Limited announced that its shareholders have approved a Scheme of Arrangement, allowing Cosette Pharmaceuticals to acquire 100% of Mayne Pharma’s shares. The resolution was overwhelmingly supported, with 99.06% of votes cast in favor. The next step involves seeking approval from the Supreme Court of New South Wales. This acquisition could significantly impact Mayne Pharma’s operations and market positioning, potentially enhancing its capabilities and reach in the pharmaceutical industry.

The most recent analyst rating on (AU:MYX) stock is a Buy with a A$7.09 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. The company is a leader in dermatology and women’s health and offers contract development and manufacturing services globally. With a 40-year history of innovation, Mayne Pharma has developed new oral drug delivery systems that have been commercialized in numerous products worldwide.

Average Trading Volume: 962,966

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$412.7M

Learn more about MYX stock on TipRanks’ Stock Analysis page.