Mayne to extend range of dermatology products with licensing of $US40m drug
Mayne Pharma (ASX:MYX) will extend its range of dermatology products through the licensing of a generic topical dermatology product from Encube Ethicals which is a leading developer and manufacturer of topical formulations to distribute in the United States.
The product had annual market sales greater than US$40m for the 12 months ending 30 September 2019.
The pharmaceutical company says the product has a strong strategic fit with it’s existing portfolio of branded and generic dermatology products and was recently filed with the US Food and Drug Administration (FDA) with approval expected in calendar 2020.
Mayne says its very pleased to have partnered with Encube who have an outstanding track record of innovative and generic topical drug development and operate one of the largest manufacturing facilities for topical prescription products globally.
Shares in Mayne Pharma (ASX:MYX) are trading 0.44 per cent higher at 57 cents.