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Mayne Pharma Group Limited (ASX:MYX) says it has ended a distribution agreement with Mylan and will take control of the marketing of its Oxycodone products under its own label.
The manufacture, marketing and distribution of the Oxycodone products is targeted at a market that spends around US$1 billion dollars and will be immediately accretive to earnings.
Mayne says it has also taken back the distribution rights for methamphetamine tablets from Mylan and will begin shipments immediately.The pharmaceutical giant has also relaunched the products of the recently acquired Doryx brand in Mayne packaging and has recruited and trained a specialist team of 60 sales people to market the new branding.
Mayne Pharma reported a net profit of $4 billion for the first half of the 2015 financial year.
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