Mayne Pharma slips 15% on reports of FIRB intervention in Cosette deal

Mayne Pharma

08/09/2025 06:42

** Mayne Pharma MYX.AX slips 15.3% to A$4.47, lowest since June 4; top loser on ASX All Ordinaries index .AORD

** South Australian (SA) government objects to U.S.-based Cosette Pharmaceuticals' A$672 mln ($441 mln) Mayne takeover bid, Australian Financial Review (AFR) reports

** SA government objects to foreign investment regulator FIRB, citing concerns that Cosette would close Mayne's Adelaide plant, report says

** Mayne says its not aware of any communication between Cosette, SA government, FIRB

** Clarifies it has no intention to shut Adelaide plant, which makes a range of products including pellet products, powders, tablets

** Around 2 million shares traded, 10.7x the 30-day avg

** YTD, MYX falls 10.5%

($1 = A$1.5239)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))