Mayne makes good
February 27, 2014
Mayne Pharma Australia (MPA)
has reported a 52% increase in
gross profit, up $1.1m year on year
to $3.2m, in the first half of the
2014 financial year.
Sales were up 44% to $6.9m, with
improved performance of MPA
driven by the addition of Kapanol to
its portfolio, the company said.
It had owned the franchise for 12
months, and the sales team had
logged more than 4000 calls and
visits to physicians, MPA said.
The rest of its portfolio showed
mixed growth, with Astrix tablets
and capsules up on the year on
year period, thanks to grocery
sales, but Doryx capsules were
down, following yearly PBS prices
decreases, the company said.
It expected to launch head lice
treatment Licener shortly as well as
Lozanoc (formerly SUBACAP), which
was on track for approval by the
middle of the year.
The company had 12 products
pending Therapeutic Goods
Administration approval in total
and expected to file six more with
the TGA this year.
Mayne Pharma Group reported a
158% increase on total revenue for
the half year ended 31 Dec, with
net profit clocking in at $8.4m, up
from a reported loss.
The Group posted $707m in total
revenue, up on the year ago period.
The company recorded net profit
up from a loss of $2.5m.
The ASX listed company reported
lifted sales of its US generic
products, with $17m in gross
profit up 38% on the second half
of the 2013 financial year, with key
drivers including increased market
penetration of products such
as Nystatin and Oxycodone HCl
combination products.
Mayne Pharma ceo Scott Richards
said the results reflected the
impacts from recent business
and product acquisitions, product
launches and increased market
penetration.
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