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Mayne Pharma Group Provides Market Update

14 May 2019  |  09:10:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Mayne Pharma market update

Mayne Pharma Group provided an unaudited trading update for the 10 months ended 30 April 2019. At a group level, revenue was $154m in the first 4 months of CY 2019 down 15% on pcp and gross profit was $79m down 20% on pcp. Cash on hand at 30 April 2019 of $111m was $15m higher than the position at 31 December 2018 after a US$5m payment for the commercial launch of LEXETTE and the Company's bank debt remained consistent with the December 2018 balance. The Company continues to have head room under its bank covenants. Its women's health portfolio covers 50% of obstetrician/ gynaecologist prescription needs in oral contraception and the pipeline includes three further products including the largest contraceptive product sold in the US generic NUVARING, which is pending at the FDA.

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