Mayne Pharma (ASX:MYX) sales down 1 per cent

Company News

by Rachael Jones

Mayne Pharma (ASX:MYX) report sales for Financial Year 2019 are down 1 per cent to $525.2 million.

Reported net loss after tax of $280.8 million driven by asset impairments.

The drugs manufacturer says international sales were $13 million in the first four months of FY20, down 7 per cent on the prior corresponding period, impacted largely by reduced commercial manufacturing revenues.

They did not give earnings guidance due to their results being volatile from the timing of FDA approvals, competitor launches and withdrawals on key products.

Shares in Mayne Pharma (ASX:MYX) are trading 8.3 per cent lower at $0.50.