I believe MYX new board and management deserve a chance to prove themselves before we paint them with the same brush of previous management.
I believe the purchase of the Therapeutics products is sound and money well spent if they deliver on what has been said.
So, my analysis of new products' contribution for FY2024 below is based on :
1. It will be marketed by current Nextellis sales team
2. Additional US$20M marketing costs
3. Royalty payments to Therapeutics and Population Council
4. Not taking into account the stated strategy of marketing direct to consumers, which could boost revenue significantly (as per dermatology).
5. the last 9 months of trading by Therapeutics (US$68.3M) -(Significantly hampered by loss of staff and their ongoing woes)
6. Gross Profit %(81.8%) as per Therapeutics
As a speculative aside, I believe the Capital Return will be cancelled and used for purchasing the rights for distribution of Donesta in the US. Mithra has already granted those rights to Gideon Richter for distribution in Europe, Brazil, Australia, NZ
but interestingly not the US . Gideon has agreed to pay 55M Euros for the rights.
|
| New Prod $A |
|---|
| 1 | Revenue | $130.15 |
|---|
| 2 | Gross Profit | $106.48 |
|---|
| 3 | %Profit | 81.82% |
|---|
| 4 | Op. Expenses | $45.38 |
|---|
| 5 | Total Costs | $69.04 |
|---|
| 6 | Contribution | $61.11 |
|---|
(20min delay)