Mayne enters US women’s health market with NASDAQ-listed partner for $205m; shareholders spookedIn a deal the company expects to be immediately material to its own revenues and profits, Australia’s Mayne Pharma (ASX:MYX) is entering the US women’s healthcare product market with NASDAQ-listed partner TherapeuticsMD. Executing a licencing agreement with Therapeutics, Mayne will hand the former $205.5m to fund the product-line acquisition.Payments to Therapeutics MD by Mayne will be made on sales-based milestones; for every US$100m in revenue made each year, Mayne will need to hand TherapeuticsMD $5m. Mayne will also pay royalties of US$3m a year for 12 years.
Mayne Pharma has an extensive women’s health portfolio focused on contraceptives.
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| Last trade - 14.23pm 14/06/2024 (20 minute delay) ? |
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