Pharmacy Daily | Integrated growth – Mayne

Mayne Pharma is expecting significant growth in the coming year, with a strong pipeline of products set to debut in both Australia and the USA. According to the company’s annual results announcement on Fri, there are more than 20 items set to launch in Australia, with six having already received TGA approval and set to launch in the coming months, and a further seven approvals pending. In the USA there are over 30 pipeline products, of which 17 are pending approval with a potential market of over US$1.8 billion. CEO Scott Richards said the last year had been a “transformational period” for Mayne, which had diversified its US business via the acquisition of the Doryx brand. Overall revenue fell 1% to $141.4 million, but business picked up in the second half of the year with revenue up 37% and a strong gross profit contribution from Doryx. With the completion of the US Doryx acquisition for US$50m described as “transformational”, a new US Specialty Brands (SBD) group created, the purchase of US distribution in-house for generic methamphetamine and oxycodone product families, FDA approval of 50mg Doryx tablets and TGA approval of 12 products, Mayne is optimistic about the future. FY16 promises significant growth said the company, driven by recent product acquisitions, new product launches, increased market penetration of existing products and growth in Metrics Contract Services. Locally Mayne expects a stronger contribution from its growing injectable product offering, further growth in its OTC portfolio and the launch of oxycodone immediate release tablets. Richards said the company also maintains an active program to identify potential acquisition targets, and “will continue to look at opportunities through FY16 to diversify the product portfolio and business”.

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