Australia's Mayne Pharma rises on $10.3 million legal costs award

Mayne Pharma

05/06/2026 04:34

** Shares of Mayne Pharma Group MYX.AX rise as much as 6.8% to A$2.36, their largest intraday pct gain since May 28
** Pharma firm confirms it received a total of A$14.4 million ($10.26 million) from U.S.-based Cosette Pharmaceuticals in accordance with orders made by the Supreme Court of New South Wales
** Says amount comprises recovery of co's legal costs, costs associated with co's application and interest
** Mayne sued Cosette in June 2025 over its attempted termination of a 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 25.1% YTD, including the day's moves
($1 = 1.4037 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))