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Mayne Pharma Group Limited (ASX:MYX)

ALERT: Price-sensitive ASX Announcement for MYX
Current share price for MYX : $2.900 -2.01 (-40.94%)+
Announcement
Release
10 Nov 2025 12:42PM
Price at Release
$4.910
Full Release
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Summary
Mayne Pharma Group Limited announced updates on its proposed acquisition by Cosette Pharmaceuticals, Inc. through a scheme of arrangement. The Supreme Court of New South Wales previously ruled in favor of Mayne Pharma, dismissing Cosette's claims regarding the termination of the Scheme Implementation Deed. Cosette and its BidCo have filed a notice intending to appeal the decision, with proceedings expected by January 2026. The scheme's implementation remains dependent on various approvals, including from the FIRB and the Supreme Court at a hearing set for November 18, 2025. Mayne Pharma is actively working to expedite the appeal process and has notified the market about a possible adjustment to the previously announced timetable, with the scheme's current end date being November 20, 2025.
Key Points
  • Mayne Pharma's acquisition by Cosette Pharmaceuticals is via a scheme of arrangement.
  • Supreme Court of NSW ruled in favor of Mayne Pharma, dismissing Cosette's claims.
  • Cosette has filed a notice of intention to appeal the court's decision.
  • Appeal proceedings are expected to begin by January 2026.
  • Scheme implementation requires FIRB and Supreme Court approvals.
  • Second court hearing is scheduled for November 18, 2025.
  • Mayne Pharma is expediting steps to deal with the appeal.
  • Market has been informed about potential changes to the timetable.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.