Mayne Pharma Group (ASX:MYX) said the acquisition of 100% shares in the firm by Cosette Pharmaceuticals is now expected to close in late June to early July, according to a Tuesday Australian bourse filing.
It also signed an agreement with Sol-Gel Technologies to acquire and exclusively license the US rights to TWYNEO, a tretinoin and benzoyl peroxide cream for the treatment of acne vulgaris, and EPSOLAY, for the treatment of inflammatory lesions of rosacea.
The terms of the agreement are $10 million in cash at closing and an additional $6 million in cash six months after closing.
The underlying losses before interest, taxes, depreciation, and amortization for the fiscal third quarter ended March came in at AU$3.4 million, while net sales for the period came in at AU$86.8 million, down 11.3% on the same period in the previous year.
The firm expects to report underlying EBITDA in the range of AU$47 million to AU$51 million for the fiscal year, rising 105% to 123% from the fiscal year 2024.
Price (AUD): $7.05, Change: $+0.060, Percent Change: +0.86%
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