Mayne Pharma Disputes Cosette’s Material Adverse Change Claim Amid Acquisition Deal

The latest announcement is out from Mayne Pharma Group ( (AU:MYX) ).

Mayne Pharma Group Limited is currently involved in a scheme implementation deed with Cosette Pharmaceuticals, where Cosette proposes to acquire all shares of Mayne Pharma. Recently, Cosette claimed a material adverse change in Mayne Pharma’s trading performance, which Mayne Pharma disputes. Despite Cosette’s assertions, Mayne Pharma maintains that no such change has occurred and is committed to progressing the scheme as planned. The company has rejected Cosette’s claims and reminded them of their obligations under the agreement, while remaining open to discussions to resolve the issue.

The most recent analyst rating on (AU:MYX) stock is a Buy with a A$7.09 price target. To see the full list of analyst forecasts on Mayne Pharma Group stock, see the AU:MYX Stock Forecast page.

More about Mayne Pharma Group

Mayne Pharma is an ASX-listed specialty pharmaceutical company that focuses on commercializing novel pharmaceuticals to offer safer and more accessible medicines. It is a leader in dermatology and women’s health in the United States and provides contract development and manufacturing services globally. With a 40-year history, Mayne Pharma has been successful in developing and commercializing new oral drug delivery systems.

Average Trading Volume: 929,190

Technical Sentiment Signal: Buy

Current Market Cap: A$526.5M

For an in-depth examination of MYX stock, go to TipRanks’ Stock Analysis page.