Mayne Pharma Delivers Strong Interim Result Turbocharged by Teva Deal
No-moat-rated Mayne Pharma delivered a solid interim result that met our expectations with underlying NPAT AUD 57 million on group revenue of AUD 295 million, up 196% and 132%, respectively, driven largely by the transformative impact of the Teva Pharmaceuticals generic portfolio, acquired in June 2016. We maintain our AUD 2.00 per share fair value estimate for Mayne and see the current discount to our intrinsic assessment stemming from, in our opinion, the market’s overly pessimistic view to th...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.
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