2013 annual report

MYX have just released their 2013 Annual report and I thought I would just copy 2 paragraphs written from Mr Roger Corbett AO (Chairman) which sums up the last 12 months and the future prospects going forward.




“Mayne Pharma is now a much larger and more diverse and sustainable business following the changes made during the year. The Company now has more revenue, products, customers, technologies, distribution channels and an increased pipeline and we have substantially mitigated the product concentration risk that was a feature of our business twelve months ago. We have strengthened our management team across all functional areas including the sales and marketing, business development, quality and regulatory functions”

“The Company’s research and development (R&D) pipeline has been transformed and now includes 20 generic products under development targeting US markets with annual sales of $3 billion (Source: IMS Health) of which seven products are pending approval at the FDA. In Australia, the Company filed nine products with the Therapeutic Goods Administration during the year. This is a remarkable change from last year, when the Company had no products filed with either regulatory agency. The increased pipeline reflects the significant investment that has been made in R&D which increased 170% from $4 million in FY12 to $11 million in FY 13”


I purchased further shares in MYX over the last couple of days given the opportunities in the coming year. The MC has had a stellar performance over the last 12 months from $50M to $240M as at 30 June 2013 and I believe it has the ability to move higher given its latest acquisitions, lower AU Dollar, further FDA approvals and selling its existing products in additional countries.

Cheers Matsim