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Mayne Pharma Group considering a "significant transaction"

Mayne Pharma Group considering a "significant transaction"

Mayne Pharma Group (ASX: MYX) has been granted a trading halt this morning as it considers a "significant transaction", with the company's shares placed in pre-open.

Mayne Pharma has not yet indicated what the transaction might entail, but the company said in late September that it was reviewing a number of strategic options to grow the business - and is considering a capital raising as part of this strategy.

Currently Mayne Pharma develops and manufactures proprietary and generic products, which it distributes directly or through distribution partners, while also providing contract manufacturing services.

FY12 sales revenue grew 10% to $51.9 million, EBITDA grew 81% to $14.3 million, with the reported net profit after tax up 265% to $6.2 million. Net operating cash increased 228% to $13.4 million.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 8th October.

 

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