Mayne Pharma closes $625 million generics buy

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Product portfolio divested as part of Teva-Allergan deal

GREENVILLE, N.C. — Mayne Pharma has completed its purchase of a package of generic drug products from Teva Pharmaceutical Industries Ltd. and Allergan plc.

Stefan Cross_Mayne Pharma

Stefan Cross

Mayne said Wednesday that under the $652 million deal, announced in late June, it takes ownership of 37 approved and five filed generic pharmaceutical products. The transaction was the largest generics divestiture resulting from the Federal Trade Commission’s approval of Teva’s $39 billion acquisition of Allergan’s generics business, which was finalized on Tuesday. Mayne secured the greatest number of products of the 11 buyers.

The acquired generics — including transdermal patches, gel capsules, semi-solids and modified-release products — align with Mayne’s focus on complex drug delivery formulations and technologies, the company said. The new drug portfolio also expands Mayne’s focus into therapeutic treatment areas such as women’s health, oncology, central nervous system and cardiovascular.

Mayne noted that the generic additions lift it into the top 25 retail generic drug companies and make it the second-largest provider of generic oral contraceptives in the United States.

“We are extremely pleased to complete this transaction that establishes Mayne Pharma as a key player in the U.S. generic market,” stated Stefan Cross, president of Mayne Pharma USA. “This portfolio is highly profitable and will significantly extend our size, scale and reach in the United States. Recent investments in people, systems and facilities will readily support the rapidly growing organization and ensure we continue to deliver exceptional service and high-quality products to our customers. Since Mayne Pharma entered the U.S. market in 2012, our company has established its organization so it could act quickly when attractive growth opportunities like this presented themselves.”

Mayne said its diversified commercial U.S. product portfolio now includes 60 marketed products plus a pipeline of 19 products pending Food and Drug Administration approval and over 20 products in various stages of development.

“Our expanded product offering from the Teva-Allergan acquisition provides Mayne Pharma with an opportunity to deepen relationships across the industry, with patients and customers and continuing through to our contract manufacturing and active pharmaceutical ingredient partners,” Cross added. “Mayne Pharma’s focus has always been to deliver a reliable supply of high-quality, cost-effective medications that enhance the quality of patient lives.”



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