Cosette Pharmaceuticals Set to Acquire Mayne Pharma Group
Cosette Pharmaceuticals has secured a definitive agreement to acquire the Australian-based Mayne Pharma Group Limited for approximately USD 430 million. This strategic move is set to position Cosette as a formidable force within the women’s health and dermatology markets. The all-cash deal values Mayne Pharma at AUD $7.40 per share, with the transaction anticipated to close in the second quarter of 2025.
Expansion of Women’s Health Portfolio
This acquisition will significantly enhance Cosette’s offerings in women’s health, introducing several patent-protected products to their portfolio. Once finalized, the combined organization will feature 12 patent-protected products dedicated to women’s health and dermatology, including well-known brands like VYLEESI, INTRAROSA, NEXTSTELLIS, ANNOVERA, BIJUVA, IMVEXXY, and RHOFADE.
A Transformative Move for Cosette
“This acquisition represents a transformative milestone for Cosette, integrating patented, high-growth products that will strengthen our leadership in women’s health in the United States and expand our global footprint,” stated Apurva Saraf, President and CEO of Cosette Pharmaceuticals. “By merging Cosette’s robust portfolio with Mayne Pharma’s extensive commercial capabilities, we will be ideally positioned to further invest in innovation, broaden our product range, and better serve our patients. We eagerly await the timely completion of this deal and the opportunity to welcome Mayne Pharma into the Cosette family.”
Combining Expertise for Greater Impact
The merger will harness the strengths of both organizations. Cosette contributes a dedicated team of over 350 professionals and a diverse women’s health product portfolio, complemented by Mayne Pharma’s team of more than 480 individuals with established sales and marketing expertise in specialty segments. Together, the resulting entity will operate two FDA-approved manufacturing facilities: one in Lincolnton, North Carolina, and another in Salisbury, South Australia, to serve women’s health needs globally.
“Joining forces with Cosette intensifies our shared mission to enhance lives through innovative and accessible women’s health and dermatology products,” remarked Shawn Patrick O’Brien, CEO of Mayne Pharma. “This merger presents a unique opportunity for our employees, customers, and patients. United, we can broaden the availability of critical therapies, foster innovation, and improve patient access.”
Regulatory and Shareholder Approvals
The acquisition has received the green light from both companies’ boards of directors, with Mayne Pharma’s board unanimously encouraging shareholders to support the transaction. Upon completion, the united company will operate as a privately held entity. Cosette is financially supported by Avista Healthcare Partners and funds managed by Hamilton Lane, while Mayne Pharma is currently listed on the Australian Securities Exchange (ASX: MYX).
The transaction is still subject to customary closing conditions, including regulatory and shareholder approvals. Cosette is being advised by Santander US Capital Markets LLC and UBS Investment Bank, while Jefferies Australia is guiding Mayne Pharma through this process.
