Mayne Pharma Group (ASX:MYX) Agrees AUD 55.5 Million Divestment to Focus on US Specialty Medicines

Aditi Sarkar

07 November 2026 10:35 PM AEDT

Mayne Pharma Group (ASX:MYX) Agrees AUD 55.5 Million Divestment to Focus on US Specialty Medicines

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Highlights

Mayne Pharma agreed to sell all shares in Mayne Pharma International Pty Ltd for AUD 55.5 million in cash at completion, subject to customary working-capital adjustments.

The headline price represents 0.79 times MPI’s FY2026 Revenue of AUD 70.7 million and 12.1 times its direct contribution of AUD 4.6 million.

After the proposed sale, Mayne Pharma will retain its US Women’s Health and Dermatology businesses and the DistributeRx direct-to-patient platform.

Completion is expected in the third quarter of FY2027, subject to customary conditions and ACCC approval.

Pharmaceutical company Mayne Pharma Group Limited (ASX:MYX) is restructuring its portfolio around US specialty medicines. Its planned exit from international operations centres on a cash transaction covering Manufacturing and commercial Assets in Australia and overseas. A binding agreement has now been signed with Evaris Pharma, with proceeds expected to support the retained Business once the disposal is completed.

An International Business Is Set for Sale

Mayne Pharma agreed to sell all shares in Mayne Pharma International Pty Ltd for AUD 55.5 million in cash at completion, subject to customary working-capital adjustments. The business includes contract development and manufacturing activities and Australian and international commercial operations, centred on the Salisbury Facility in South Australia. Evaris Pharma will acquire the company as a Going Concern under a share sale agreement rather than purchasing selected assets individually.

Valuation Anchored to FY26 Performance

The headline price represents 0.79 times MPI’s FY2026 revenue of AUD 70.7 million and 12.1 times its direct contribution of AUD 4.6 million. These multiples describe the announced transaction against the historical Earnings and revenue base. They do not state how the retained Mayne Pharma business will trade after completion. Final cash proceeds can change through the customary working-capital adjustment agreed between the parties.

US Operations Remain with Mayne Pharma

After the proposed sale, Mayne Pharma will retain its US Women’s Health and Dermatology businesses and the DistributeRx direct-to-patient platform. The parties also agreed Supply arrangements for DORYX MPC and TOLSURA from Salisbury, together with transitional services and Brand licensing for a limited period after completion. These agreements are intended to preserve continuity between the divested manufacturing operation and Mayne Pharma’s retained US activities.

Regulatory Clearance Defines the Calendar

Completion is expected in the third quarter of FY2027, subject to customary conditions and ACCC approval. The transaction does not require Foreign Investment Review Board approval. The stated rationale is to focus the group on US specialty pharmaceuticals and strengthen its Balance Sheet with sale proceeds. Until the necessary conditions are satisfied and the transaction settles, the business remains subject to completion risk and the expected proceeds have not been realised.

FAQs

Q: What Is Mayne Pharma Selling?

A: Its international subsidiary, MPI, for AUD 55.5 million subject to adjustments.

Q: When Is Completion Expected?

A: In the third quarter of FY2027, subject to conditions.

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