MYX with today’s announcement is now showing the market the benefits of the Metrics acquisition back in November 2012. The company in 2011 said they had to diversify their position from Doryx which represented 40% of their total sales and left them too reliant on one product. Two years on they have started their plan to strengthen their portfolio with acquisitions and or mergers therefore creating wealth for their shareholders.
Pharmaceutical companies may be considered boring but MYX has been far from boring in the last 18 months.
With a new CEO Scott Richards who was appointed by the company in December of 2011
The acquisition of Metrics, Inc. for US$105m approx was completed in November 2012
Mayne Pharma acquired Kapanol in Dec 2012 for approx $14m
Maynes Pharma announces the acquisition of Libertas in July 2013
Mayne Pharma announce the launch of Doxycycline Hyclate Delayed-Release July 2013
With good volume on an excellent announcement it was nice to see a 9% increase to the SP. It will be very interesting to see what lies ahead over the next couple of months with a lower AU dollar and further FDA approvals in the pipeline.
Cheers Matsim
MYX with today’s announcement is now showing the market the...
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Last
$4.48 |
Change
0.000(0.00%) |
Mkt cap ! $381.1M | |||
| Open | High | Low | Value | Volume |
| $4.46 | $4.48 | $4.37 | $1.253M | 283.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 152 | $4.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.48 | 1042 | 2 |
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| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| MYX (ASX) Chart |