Proactiveinvestors Australia

Mayne Pharma Group www.maynepharma.com

Mayne Pharma Group (ASX: MYX) is a specialist pharmaceutical company with an intellectual property portfolio built around the optimisation and delivery of oral dosage form drugs.

Tweet

 

Email

Email to a friend:

To:

Separate multiple addresses with commas.

From Email address:

Name: Please send me a copy Message:

Verification code

Enter the code from aboveRequired

Send

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.

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

Sign up to Proactive Investors

Comments from Proactive Investors readers

• Fill in your details below:

Verification Code

Reload image