Mayne Pharma at 8-month high as court blocks Cosette's plan to terminate takeover offer

Mayne Pharma

16/10/2025 24:11

** Shares in Australia's Mayne Pharma MYX.AX gain as much as 14.8% to A$6.5; hitting their highest since February 21

** A court ruling on Wednesday stopped drugmaker Cosette from abandoning its A$672 million ($437.61 million) takeover of Mayne

** Mayne will be taking all steps within its scope to implement the deal

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

** Mayne stock marks biggest intraday percentage gain since mid-May

** Stock up 26.8% YTD

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))