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12/07/21

17:54

Post #: 54449558
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Originally posted by krugerrands ↑

Mayne may be listed on ASX but main business interest is in US... in pharma....until recently most of that was generics but now pivoting away from the generics which has been bad for everyone in that segment afaik.

Comparing them with TEVA and other generic pharmacutical in the US would be more appropriate.

Gross revenue of 54% from generics in 1HFY19 and now it's 23% in 1HFY21... so clearly they are executing the pivot away from generics and WITH that they are amortizing the intangibles that they bought in mostly the TEVA deal.
The products became unprofitable because of a change in market conditions.
That one deal was a big swing at the wrong time.... could they have known? should they have known generics was going to take a big dive? dunno.
But it is taking some time to undo this mistake, and it is silly to expect this to turn around in 1 year... how would you do that exactly?

TEVA fell for the same thing and copped it even worse buying from Allergan - $40B deal I think.

Have you seen the income statement, balance sheet and cash flow statements from TEVA themselves?
Some sobering reading and I would say even worse than Mayne.

So I don't think it is a big mystery why large holders put up with it.
They either should have bailed when it was clear that the investment in generics wasn't going to pay off.... OR stick around and execute a turnaround strategy... they chose the latter.

They know that there was a big mistake made ( as opposed to continuous mistakes ) because they did not predict the change in the market and they also know what the turn around strategy is.... so what do you want them to do other than that?

The strategy as mentioned is pivoting away from generics... as they are doing.

The linchpin in this strategy seems to be Nextstellis... so that is probably the make or break product.

What other strategy should they take and execute?

Expand

Little bit more patience i suppose and pain of long
term holders may ease.

MYX Price at posting: 33.0¢ Sentiment: Buy Disclosure: Held
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