Key Highlights

  • Mayne Pharma (ASX:MYX) shares traded at $2.96 on 11 September 2026, down 1.33% ($0.040) for the day, and down 34.66% over the past year.
  • Mayne Pharma is a pharmaceutical company focused on Women's Health and Dermatology products, including BIJUVA and NEXTSTELLIS.
  • FY26 Revenue was $383.7 million, down 6%, though reported Net Profit After Tax was $31.2 million, a turnaround from a $90.1 million loss in FY25.
  • The company launched DistributeRx, its direct-to-patient distribution platform, in March 2026.

Mayne Pharma Group Limited (ASX:MYX) shares traded at $2.96 on 11 September 2026, down 1.33%, or $0.040, for the day. Over the past 12 months, the stock is down 34.66%. Mayne Pharma is a pharmaceutical company with a portfolio spanning Women's Health, Dermatology and International segments, including products such as BIJUVA, NEXTSTELLIS and ANNOVERA.

Latest Developments: FY26 Results

Statutory Profit Driven by Non-Cash Earn-Out Gain

Mayne Pharma reported FY26 revenue of $383.7 million, down 6% on FY25, while gross Margin expanded 410 basis points to 64.7%. Underlying EBITDA fell 27% to $34.2 million, which the company attributed to disruption from the Cosette transaction process and increased Women's Health sales and Marketing investment. Reported Net Profit After Tax was $31.2 million, a turnaround from a $90.1 million loss in FY25, primarily driven by a $125.6 million non-cash gain from the reassessment of an earn-out liability.

DistributeRx Launch and Segment Performance

Mayne Pharma launched DistributeRx, its direct-to-patient distribution platform, in March 2026, generating 62,000 total prescriptions in its first full quarter, up 63% on the prior comparative period. Within Women's Health, BIJUVA net sales rose 20% to US$15.0 million and NEXTSTELLIS net sales grew 6% to US$45.2 million, while ANNOVERA net sales declined 13%. Cash and marketable securities fell to $80.0 million from $100.4 million, reflecting earn-out payments and Cosette transaction and litigation costs.

Catalysts on Investors' Watch

  • Continued scaling of the DistributeRx platform, which grew total prescriptions 63% in its first full quarter.
  • The planned relocation and expansion of Adelaide Apothecary to a new automated Kentucky facility, lifting capacity to more than 2.5 million prescriptions per annum.
  • Continued prescription and sales growth in BIJUVA and NEXTSTELLIS.
  • Expanded gross margin, up 410 basis points to 64.7% in FY26.

Risks to Watch

  • FY26 revenue declined 6% and underlying EBITDA fell 27% on the prior year.
  • ANNOVERA net sales declined 13%, attributed to persistent product returns.
  • Cash and marketable securities fell to $80.0 million from $100.4 million during the year.
  • The Cosette transaction process and associated legal matters caused general Business disruption during FY26.

Conclusion

Mayne Pharma's share price on 11 September 2026 remains well below its level of a year ago, even though FY26 included a statutory return to profit. The daily price movement and the FY26 results are separate developments, with the stock's annual decline reflecting trading over the full 12-month period.