- Mayne Pharma (MYX) receives a $4.8 million grant under the Federal Government Modern Manufacturing Initiative (MMI) program
- The grant is conditional on Mayne Pharma and the Commonwealth entering into a funding agreement
- CEO Scott Richards says the grant allows the company to expand its manufacturing capability and capacity
- MYX ends the day 1.75 per cent in the red with shares trading at 28 cents
Mayne Pharma (MYX) has received a $4.8 million grant under the Federal Government Modern Manufacturing Initiative (MMI) program.
The grant is conditional on Mayne Pharma and the Commonwealth entering into a funding agreement.
“This grant will allow Mayne Pharma to expand its advanced manufacturing capability and capacity and ensure the Salisbury site remains one of Australia’s leading solid oral dose manufacturing facilities,” CEO Scott Richards said.
“The project seeks to more than double the encapsulation and blister packaging capacity and introduce new technologies such as serialisation to support the export of select solid oral dose products.”
The specialty pharmaceutical company’s Salisbury facility is the largest Australian-owned full service solid oral dose and topical plant manufacturing TGA and FDA registered pharmaceuticals in Australia.
The site offers full ‘end to end’ pharmaceutical services from development through to commercial manufacturing and distribution.
Mayne Pharma has over 40-years of Good Manufacturing Practice (GMP) certification from the TGA and FDA including developing and manufacturing a number of WHO-recognised essential medicines.
MYX has ended the day 1.75 per cent in the red with shares trading at 28 cents.