trend reversal, page-4

From Fairfax today -

Mayne Pharma revenues soar
Date
November 26, 2013 - 9:42AM
Brian Robins
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Mayne Pharma has posted $45 million in revenues in the first four months of fiscal 2014, indicating full year revenues are running at $135 million.

Revenues in the first four months are up 230 per cent, shareholders were told at today's annual general meeting, boosted by the acquisition earlier of US company Metrics along with a lift in sales of its in-house developed drug Doryx.

No indication of earnings was given at the meeting.

In the year to June, Mayne Pharma posted revenues of $85 million, reflecting an initial contribution from the Metrics purchase.

Domestically, Mayne Pharma has the rights to sell 12 products, up from eight in fiscal 2012, it said, with plans in hand to double the number of products on the market.

In the key US market, applications have been lodged for the launch of ten generic products, although the timing of approvals for sale is unclear.

A further ten products are in development, as the company expands its research and development capabilitiy as part of a bid to rebuild its product pipeline.

In Australia, 13 products are awaiting approval for launch, it said.



Read more: http://www.smh.com.au/business/mayne-pharma-revenues-soar-20131126-2y6v2.html#ixzz2lhiyXlbV