Australia's Mayne Pharma jumps after legal cost award

Mayne Pharma

22/05/2026 05:51

** Mayne Pharma's MYX.AX shares jump as much as 8.1% to A$2.55, marking their biggest intraday gain since April 29, on track for a third straight session of gains

** Stock is up 5.6% on the week, heading for its strongest weekly performance in over three weeks

** Pharma company says it has been awarded A$13.3 million ($9.49 million) in legal costs following its successful court action last year against U.S.-based Cosette Pharmaceuticals

** Mayne sued Cosette in June 2025 over its attempted termination of the February 2025 scheme deed, with a court ruling in October 2025 in Mayne’s favour, dismissing all claims and ordering Cosette to pay costs

** Stock down 21.5% YTD

($1 = 1.4008 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))