Mayne Pharma’s Perfect Storm Expected to Persist; Raising Uncertainty Rating to Very High
No-moat Mayne Pharma disappointed with full-year results lower than recent guidance, and well below even our lowered expectations, highlighting unprecedented challenges facing generic manufacturers operating in the U.S. market. These appear to have worsened in the second half, resulting in revenue and earning numbers below the bottom end of the ranges provided by management in early August. Underlying net profit after tax, or NPAT, of AUD 90 million on group revenue of AUD 572.6 million, althoug...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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