Mayne Pharma Group Served With Legal Proceedings Against US Unit

MT Newswires Live

04/11

Mayne Pharma Group (ASX:MYX) said that it has been served with a legal proceeding filed in the US District Court of Delaware against its US unit, Mayne Pharma, according to a Friday filing with the Australian bourse.

The lawsuit filed by US-based women's healthcare company TherapeuticsMD (TXMD) alleges breach of contract, fraudulent inducement, and unjust enrichment related to the 2022 transaction agreement between the companies, the filing said.

The company plans to vigorously defend the case, which it believes is without merit, the filing added.

MYX also stated it had separate claims against TXMD, alleging damages exceeding TXMD's claims.

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