It all looked pretty good, except "MPl revenue expected to be down in FY15 as a result of reduced branded US Doryx™ sales reflecting the recent lower underlying prescription volumes and anticipated resultant destocking at Actavis and lower licensing fee income". MPI (Mayne Pharma International) is ~40% of revenues. They don't say how far down. There would appear to be a lot of potential growth elsewhere to offset it, but they don't give figures for that either.
"2HFY14 sales of US Doryx™ down 24% on 1HFY14", but the dip came exactly as Actavis took over Warner Chilcott, and sales have been reasonably steady since. http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01546688
page 10.
MYX Price at posting:
84.0¢ Sentiment: Hold Disclosure: Held
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