Greenshoots Appear as Positive Trading Momentum Continues; Maintaining FVE for Mayne Pharma
Promising signs of a turnaround have begun to emerge after a difficult period for Mayne Pharma, characterised by unprecedented pricing pressure in the U.S. market for generic drug manufacturers. Pleasingly, positive trading momentum in the second quarter, as evidenced by the 600-basis point sequential improvement in gross margin, has continued into January. We think this reflects the success of operational initiatives in the generic division commenced in the period, including expanding channels ...
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