Mayne Pharma report net loss of $280m

Company News

by Rachael Jones

Pharmaceutical company Mayne Pharma (ASX:MYX) reported a full-year net loss of $280.8 million down 110 per cent on last year's $133.9 million loss impacted by intangible asset impairments.

Revenues of $525.2 million, down 1 per cent on the prior corresponding period (pcp).

They posted a non-cash impairment charge of $351.7 million.

The company launched two specialty brand products in the US, TOLSURA® capsule and LEXETTE™ (halobetasol) foam and five generic products, they are expecting a stronger financial year 2020 driven by these.

Shares in Mayne Pharma (ASX:MYX) are down 1.1 per cent to 47 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.