Mayne Pharma buys $652 million slice of Teva and Allergan's US generics portfolio

29 June 2016

Australia's Mayne Pharma (ASX: MYX) has propelled itself into one of the top 25 generics sellers in the USA by joining in the buy-up of assets from Israel’s Teva Pharmaceutical Industries (NYSE: TEVA) and Ireland-incorporated Allergan (NYSE: AGN).

The $625 million deal will see Mayne picking up 37 approved products and five for which marketing applications are filed with the US Food and Drug Administration (FDA).

Mayne is confident that the products, which are in a range of therapeutic areas, are in attractive markets with limited competition, and that they are a good fit for the company’s core competency in complex pharmaceutical formulations including difficult-to-manufacture, modified-release tablets and capsules, soft-gel capsules and transdermal patches.

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