- Mayne Pharma (MYX) enters an exclusive license agreement with NASDAQ-listed TherapeuticsMD
- Mayne will license from TherapeuticsMD three branded women’s health products and a portfolio of prenatal vitamins in the US
- MYX will pay US$140 million (A$204.6 million) for acquired working capital and contingent payments based on achieving milestones and sales-based royalties
- CEO Shawn O’Brien says licensing these products provides a solid foundation for creating a market leadership position in the US women’s health market
- Mayne Pharma shares are down 10.4 per cent to trade at 21.5 cents at 2:57 pm AEDT
Mayne Pharma (MYX) has entered an exclusive license agreement with TherapeuticsMD for three branded women’s health products and a portfolio of prenatal vitamins in the US.
Mayne Pharma will exclusively license the ANNOVERA, IMVEXXY and BIJUVA brands, which the company said complemented its NEXTSTELLIS oral contraceptive product. The brands will be marketed through MYX’s women’s health team.
It will also license the BocaGreenMD and vitaMedMD prenatal vitamins and acquire selected assets to support the operation and commercialisation of the portfolio.
MYX CEO Shawn O’Brien said he was pleased to add these “highly complementary” and patent-protected women’s health products to Mayne Pharma’s portfolio.
“The products will be supported by our existing commercial capability across sales and marketing, customer service and medical affairs,” Mr O’Brien said.
“We are very attracted by the underlying fundamentals of the contraceptive and menopause market, and these products provide a solid foundation to creating a market leadership position in the US women’s health market.”
Mayne Pharma will pay US$140 million (A$204.6 million) as part of today’s deal — a payment for acquired working capital and contingent payments based on achieving certain sales-based milestones and royalties.
The pharmaceutical company will fund this from a mix of cash, existing debt facilities and convertible notes.
The transaction is expected to close on December 30 pending the satisfaction of customary closing conditions.
Company shares were down 10.4 per cent to trade at 21.5 cents at 2:57 pm AEDT.