Mayne Pharma acquires rights to psoriasis cream

Company News

by Rachael Jones

Mayne Pharma (ASX:MYX) has acquired US and Australian rights to halobetasol foam – a dermatological product for treating psoriasis for an investment of US$32 million.

Psoriasis is the most prevalent autoimmune disease in the US which affects over 7.5 million Americans each year.

The foam has a market value at US$64 million and growing 10 per cent per annum in volume terms.

It was approved by US FDA in May 2018.
 

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.