Mayne Pharma report net loss after tax of $134m

Company News

by Rachael Jones

Pharmaceutical company Mayne Pharma (ASX:MYX) reported financial year 2018 revenue of $530 million, adjusted EBITDA of $165 million and reported a net loss after tax of $134 million.

These full year results were impacted by a number of one-off items including non-cash intangible asset impairment, stock becoming obselete, abnormal antibiotic Doryx returns and a charge to income tax expense resulting from the US corporate federal tax rate change.

The Company ended the year with cash of $87 million and outstanding borrowings of $374 million.

Shares in Mayne Pharma (ASX:MYX) 0.85 per cent lower at $1.17.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.