Report
Chris Kallos, CFA
EUR 101.80 For Business Accounts Only

Mayne is an emerging pharmaceutical manufacturer with direct distribution into US generics markets.

We retain our AUD 2.00 per share fair value estimate for no-moat Mayne Pharma, and reiterate our high fair value uncertainty rating, following the launch of its doxycycline hyclate immediate-release tablets (75mg and 150mg) in the United States, representing the first generic version of Acticlate tablets in the market and the fourth first-to-market generic launch since June 2016. At current levels, the stock is trading well below our intrinsic assessment, and is therefore undervalued, in our vie...
Underlying
Mayne Pharma Group Limited

Mayne Pharma is a pharmaceutical company focused on applying its drug delivery capabilities to commercialize branded and generic pharmaceuticals. Co. operates in four business units: Generic Products, which develops, manufactures, markets and distributes generic pharmaceutical products in the U.S.; Specialty Brands, which markets and distributes specialty branded pharmaceutical products in the U.S.; Metrics Contract Services, which provides contract pharmaceuticals development services and analytical services to third parties; and Mayne Pharma International, which develops, manufactures, markets and distributes branded and generic pharmaceutical products globally, excluding the U.S.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Chris Kallos, CFA

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