Mayne buys US generics
June 28, 2016
Australian listed
pharmaceutical manufacturer
Mayne Pharma this morning
confirmed a binding agreement to
acquire a portfolio of US generic
products from Teva and Allergan.
The US$652 million cash deal
covers 37 approved products
along with five FDA-filed items in
“attractive markets with limited
competition across a range of
therapeutic areas,” the firm said.
Teva has been ordered to divest
itself of the products by the US
Federal Trade Commission, in
connection with its proposed
acquisition of Allergan’s generic
drug business.
Mayne Pharma ceo Scott Richards
said the acquisition transforms
the company’s Generic Products
Division into a top 25 player in the
US retail generics market.
“This attractive portfolio spans
multiple dosage forms and
complements our expertise in
higher value, niche, differentiated
products,” Richards said.
“The on-market products have
strong shares in stable, mature
markets while the pipeline products
are expected to deliver additional
growth in attractive markets as they
are launched over the next couple
of years”.
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