Mayne Pharma to acquire TherapeuticsMD's women's health portfolio

Australia’s Mayne Pharma Group (ASX: MYX) has signed an exclusive license agreement with TherapeuticsMD (Nasdaq: TXMD) for three branded women’s health products and a portfolio of prenatal vitamins in the USA, with the news sending the US firm’s shares up 4.7% to $4.66 in pre-market trading.

Under the license agreement, Mayne will exclusively in-license Annovera (segesterone acetate/ethinyl estradiol), Imvexxy (segesterone acetate/ethinyl estradiol), Bijuva (estradiol and progesterone capsules) and the BocaGreenMD and vitaMedMD lines of prenatal vitamins and acquire selected assets including inventory and regulatory filings to support the operation and commercialisation of the portfolio.

The deal seems to represent the culmination TherapeuticsMD’s long search for a way out after a recent M&A proposal fell through. While EW Healthcare Partners had offered to pay $10 a share to buy out the biotech in a deal valued at $177 million, it did not acquire the required majority of shares of TherapeuticsMD through the previously announced tender offer by the extended offer deadline on July 12, 2022.