Pharmaceutical giant, Mayne Pharma (ASX:MYX) has launched a new contraceptive tablet in the US.
The tablet is called MICROGESTIN 24 FE and is a generic version of LOESTRIN® 24 FE.
Mayne Pharma CEO Scott Richards says the company is focused on expanding its portfolio with novel and generic products.
It expects to launch up to seven new contraceptive products over the coming year.
This marks the first of five anticipated new product launches expected from the recently announced strategic partnership with Novast Laboratories.
Shares in Mayne Pharma (ASX:MYX) are trading 4.3 per cent higher at 36 cents.