Mayne Pharma Group Limited (ASX: MYX) today announced a significant legal victory, with the Supreme Court of New South Wales determining the company is entitled to a payment of $13,269,328.04 in legal costs from Cosette Pharmaceuticals, Inc. Mayne Pharma is an ASX-listed specialty pharmaceutical company focused on commercialising novel pharmaceuticals, offering patients better, safe and more accessible medicines. It is a leader in dermatology and women’s health in the United States and also provides contract development and manufacturing services to clients worldwide, boasting a 40-year track record of innovation. This substantial award stems from successful proceedings initiated by Mayne Pharma last year.
The legal dispute began in June 2025 when Mayne Pharma commenced proceedings against Cosette. The core of the matter involved Cosette’s purported termination of a Scheme Implementation Deed, an agreement that had been signed by Mayne Pharma and Cosette in February 2025. Following several months of legal arguments, the Supreme Court delivered a judgment in October 2025, ruling decisively in favour of Mayne Pharma and dismissing all of Cosette’s claims. At that time, the Court also issued an adverse costs order against Cosette, stipulating that Cosette was required to pay Mayne Pharma’s costs of the proceedings, either as agreed upon by the parties or as subsequently assessed by the Court.
The judgment delivered today specifically quantifies these previously ordered costs. The Court now requires Cosette to pay Mayne Pharma the precise amount of $13,269,328.04, in addition to interest accrued on these costs. Further orders are expected from the Court shortly to give full effect to this judgment. These anticipated orders will address key details such as the final amount of interest to be paid by Cosette, the specific timeframe within which the payment must be made, and any further costs Mayne Pharma incurred in connection with its application for these legal costs. This financial resolution marks a notable outcome for Mayne Pharma following the protracted legal process.
