# Mayne Pharma to Sell Australian Manufacturing Business MPI to Evaris Pharma for $55.5 Million

> Mayne Pharma agreed to sell its Australian manufacturing and commercial business MPI to Evaris Pharma for $55.5 million in cash.

- Published: 2026-11-07T21:33:58+00:00
- Section: Divestitures
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-07/mayne-pharma-sells-mpi-evaris
- Source: [Seeking Alpha](https://seekingalpha.com/article/4964671-mayne-pharma-group-limited-maynf-m-and-a-call-transcript?source=feed_all_articles)

## Key takeaways

- Mayne Pharma will sell Mayne Pharma International to Evaris Pharma for $55.5 million in cash.
- The price equals 0.79x MPI's fiscal 2026 revenue of $70.7 million and 12.1x its direct contribution of $4.6 million.
- The transaction is not subject to FIRB approval or a financing condition and is expected to close in the third quarter of fiscal 2027.

[Mayne Pharma](https://akta.pro/company-profiles/000sszc/mayne-pharma) has entered a binding agreement to sell its Australian manufacturing and commercial business, Mayne Pharma International, to Evaris Pharma for $55.5 million in cash. The company announced the deal on November 5, 2026, [Seeking Alpha](https://seekingalpha.com/article/4964671-mayne-pharma-group-limited-maynf-m-and-a-call-transcript?source=feed_all_articles) reported. Mayne Pharma is a Salisbury-based specialty pharmaceutical company listed on the ASX. Evaris Pharma is the buyer of the MPI business.

## Mayne Pharma's $55.5 Million MPI Sale to Evaris

Evaris will pay $55.5 million in cash at completion, according to the report. That amount represents 0.79x MPI's fiscal year 2026 revenue of $70.7 million and 12.1x its fiscal year 2026 direct contribution of $4.6 million. Mayne Pharma said MPI contributed about 4% of the group's direct contribution in fiscal year 2026 while carrying the fixed cost and ongoing capital requirements of the Australian-owned manufacturing facility.

Completion is expected in the third quarter of fiscal year 2027. The transaction is not subject to FIRB approval and is not subject to a financing condition, the company said. Mayne Pharma said the sale completes its transition to a specialty pharmaceutical company focused entirely on the United States.

"The sale of MPI completes Mayne Pharma's transition to a specialty pharmaceutical company that is 100% focused on the United States," Chief Executive Officer Aaron Gray said on the call. Gray was joined by Chief Financial Officer Griffin Buchanan.

## Mayne Pharma's Leadership and Distribution Moves

Mayne Pharma appointed Griffin D. Buchanan as chief financial officer effective August 1, 2026, completing executive turnover after the failed Cosette transaction, according to akta.pro [company records](https://akta.pro/company-data). In June 2026, wholly-owned subsidiary DistributerRx secured an exclusive US distribution partnership with Atlanta-based Resilia Pharmaceuticals to distribute RECEDO topical gel across the United States. Mayne Pharma reported H1 FY26 revenue of A$212.1 million, broadly flat year-on-year, with gross margin improving to 65.3%, up 390 basis points.

## Cosette Appeal and Teva Settlement Preceded the Sale

In October 2026, the NSW Court of Appeal rejected Cosette Pharmaceuticals' appeal to terminate its takeover of Mayne Pharma, upholding that the deal had no valid grounds to be abandoned, [The future of trading](https://akta.pro/news-signals) reported. Mayne Pharma had sought a trading halt on October 13, 2026, pending an announcement on the NSW Court of Appeal decision regarding Cosette's appeal. Earlier that month, Mayne Pharma settled a US patent suit with Teva Pharmaceuticals over its oestradiol vaginal insert Imvexxy, with Teva agreeing not to enter the US market with a generic version until 2032, Law360 reported.

## MPI Completion Set for Third Quarter of Fiscal 2027

Mayne Pharma expects the sale of MPI to Evaris Pharma to complete in the third quarter of fiscal year 2027, the company said.

## Companies in this story

- [Mayne Pharma company profile](https://akta.pro/company-profiles/000sszc/mayne-pharma) · website: http://www.maynepharma.com

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