Drugs manufacturer Mayne Pharma is still feeling the impact of tough competition and lower prices in the generic drugs market in the US, but expects that the release of new drugs and restructuring initiatives will boost the company’s financial performance.
Chief executive Scott Richards says the company’s first half is expected to be “soft” but that a range of initiatives is already yielding benefits.
Shares in Mayne Pharma were 1.75 cents, or 2.8 per cent, lower at 60.75 cents, at 1120 AEDT.
Mayne Pharma said revenue for the first four months of the financial year had fallen by 12 per cent to $151 million because of lower prices in the US generic drugs market arising from aggressive contracting behaviour by wholesaler and retailer buyi…
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