Pharmaceuticals company, Mayne Pharma Group Ltd
(ASX:MYX), has received US FDA approval to launch a generic brand medication, containing morphine, which will be used to manage severe pain.
The company will soon sell morphine sulphate extended-release tablets (MSER) in the US, and these are a generic version of MS Contin, which is an opiod analgesic.
Mayne Pharma says that US branded and generic sales of these extended-release tablets totalled around US$280 million in the full year ending 31 August 2016.
The company also says its Generic Products Division directly markets more than 50 products. Furthermore, it has a growing pipeline of over 40 generic and branded drugs targeting IMS sales greater than US$7 billion.
Mayne Pharma reported a net profit of $34.5 million at 30 June 2016.
