Mayne Pharma has reported its financial results for the first half of the year, with revenue remaining relatively stable at $212.1 million, a decrease of 0.5 per cent compared to the previous year. The company, which focuses on developing and marketing branded and generic pharmaceuticals, saw its gross margin improve by 3.9 percentage points to 65.3 per cent.
Underlying EBITDA experienced a decrease of 8 per cent, falling to $28.6 million. However, the total direct segment contribution saw a positive shift, growing by 5 per cent to reach $68.1 million. This growth was primarily fueled by a significant 35 per cent increase within the company’s dermatology division.
Mayne Pharma managed to reduce its losses during the period. The group reported a narrowed loss of $12.1 million, an improvement compared to the $20 million loss recorded in the corresponding period last year. These results reflect Mayne Pharma’s ongoing efforts to optimise its operations and drive growth in key segments.
