Patrick, I don't want to engage in tit for tat but just one time and I'm out. Your research is not well founded
1. The hedge cost of $13.5M created a profit for Mayne Pharma because of the AUD/USD fluctuations, if you look at the original announcement of the Metrics sale in August, it was stated that Mayne would receive A$679M we ended up getting A$722M because of the hedge.
2. The money paid for Therapeutics products was 3 times earnings. Look at slide 46 1HFY23 presentation of projected go forward earnings for THMD A$72.8 or US$50 so we only paid $US140M for the products, so this is a very good deal.
3. Mayne was never going to get 30 times earnings for Metrics. As stated multiple times in presentations in 2021 and 22 the deals struck were between 10 and 20 times so getting 15 times from Catalent was fair.
4. I can't comment on the A$40M paid for the transaction but these are never cheap . Banks and lawyers never lose.
5. I do agree with you that selling 9% of the company for US$27M isn't great. Cheers
MYX Price at posting:
$3.53 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)