Mayne Pharma Group posts 35% increase in underlying half year profit

Company News

by Rachael Jones

Pharmaceutical company Mayne Pharma Group (ASX:MYX) released their half year results today showing underlying net profit after tax up 35 per cent to $21.1 million from the prior corresponding period.

Revenue increased 13 per cent from the last half year to $274.4 million.

And underlying EBITDA rose 16 per cent to $81.2 million.

During the half, the Company received FDA approval for two products including the New Drug Application for TOLSURA an anti-fungal capsule which launched in the US in January this year.

The Directors have not declared an interim dividend in relation to the period ended 31 December 2018.

Shares in Mayne Pharma Group (ASX:MYX) are trading 5 per cent lower to 76 cents.

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.