Cosette's attempt to drop $438 million Mayne Pharma deal denied by court

Mayne Pharma

15/10/2025 23:47

Oct 16 (Reuters) - An Australian court has moved to prevent U.S. drugmaker Cosette Pharmaceuticals from abandoning its A$672 million ($437.6 million) acquisition of Mayne Pharma MYX.AX, the ASX-listed company said on Thursday.

Cosette has been trying to terminate its offer, after saying in May that it was reviewing the deal because of a "material adverse change" in Mayne's performance.

($1 = 1.5356 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Shailesh Kuber)

 ((Rishav.Chatterjee@thomsonreuters.com))