Mayne Pharma (ASX:MYX) enters long-term supply agreement with Novast Labs

Company News

by Anna Napoli

Mayne Pharma has entered into a long-term supply agreement with Novast Laboratories for 13 US generic oral contraceptive products.

The products include two of the highest prescribed oral contraceptives in the US while one of the products is awaiting US FDA approval.

The company says the deal expands its womens health portfolio and secures supply on more favourable terms.

Mayne Pharma is a leading supplier of contraceptives in the US with its portfolio now covering more than 85% of oral contraceptive prescription volumes.

Mayne did not say how much the agreement is worth of how long it will run for.

Shares in Mayne Pharma (ASX:MYX) are trading 9.15 per cent higher to 45 cents.