Mayne Continues to Face Generic Market Challenges; FVE to AUD 1.00
The negative 10-month trading update provided by no-moat Mayne Pharma follows a challenging half-year result reported in February, and was largely factored into our base case for fiscal 2019. However, continued competitive forces in generic pharmaceuticals in the U.S. results in a reduction in our fair value estimate to AUD 1.00 from AUD 1.05. Revenue in the key generic products segment is down 15% year to date primarily as result of increased competition and the negative effect on pricing. We n...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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