Australia's Mayne Pharma set to snap 4-session skid on pushing ahead with Cosette scheme

Mayne Pharma

05/06/2025 01:56

** Mayne Pharma Group MYX.AX rises 3.4% to A$4.63; set for steepest intraday pct gain since May 23

** Stock on track to snap four consecutive sessions of losses

** Co says U.S.-based Cosette's notice to scrap A$672 mln ($436.8 mln) deal not effective

** Unanimously recommends shareholders to vote in favour of Cosette scheme

** Adds it intends to proceed with the scheme meeting on June 18

** More than 1.3 mln shares traded vs 30-day avg of 1.2 mln

** MYX falls 9.7% this year, as of last close

($1 = A$1.5385)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))