# Mayne Pharma Divests Australian and International Operations to Evaris Pharma for $55.5 Million

> Mayne Pharma sold its Australian and international commercial and manufacturing operations for $55.5 million.

- Published: 2026-11-12T05:12:25+00:00
- Section: Divestitures
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-12/mayne-pharma-sells-australian-operations
- Source: [Mirage News](https://www.miragenews.com/mayne-pharma-sells-australian-operations-for-55-1776182/)

## Key takeaways

- Mayne Pharma sold its Australian and international commercial operations, including contract development and manufacturing at Salisbury, South Australia, for $55.5 million.
- The buyer is Evaris Pharma, which agreed to pay $55.5 million in cash under a binding agreement.
- The transaction is subject to ACCC approval and is expected to complete in early 2027.
- Mayne Pharma reported H1 FY26 revenue of A$212.1 million and underlying EBITDA of A$28.6 million.

Mayne Pharma has sold its Australian and international commercial operations, including contract development and manufacturing, to Evaris Pharma for $55.5 million in cash. [Mirage News](https://www.miragenews.com/mayne-pharma-sells-australian-operations-for-55-1776182/) reported the divestment on November 12, 2026. The sale completes Mayne Pharma's transition to a specialty pharmaceutical company focused exclusively on the United States.

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

[Mayne Pharma](https://akta.pro/company-profiles/000sszc/mayne-pharma) is a public company founded in 1980 and headquartered in Salisbury, Australia, with an estimated revenue of $250 million to $500 million. Evaris Pharma is the buyer under a binding agreement to acquire Mayne Pharma's Australian manufacturing and commercial business, MPI, for $55.5 million in cash, according to a Seeking Alpha transcript of a Mayne Pharma M&A call.

The transaction covers Mayne Pharma's contract development and manufacturing operations together with its Australian and international commercial operations centred on its manufacturing and development facility in Salisbury, South Australia. The divestment forms part of Mayne Pharma's broader strategic repositioning and will complete its transition to a specialty pharmaceutical company focused exclusively on the United States.

MinterEllison advised on the deal. M&A and Capital Markets Partners Sudharshan Senathirajah and Daniel Bell led the team, with support from Senior Associates Oliver Deane and Morgan Lincoln, Associate Mason Bierlein and Lawyer Nat Dermenzies. "We are very pleased to have supported Mayne Pharma on another important transaction as it continues to reposition its business around its US specialty pharmaceutical operations," Senathirajah said. "The sale involved a number of continuing commercial and operational arrangements between the parties post completion." Daniel Bell said the firm has a longstanding relationship with Mayne Pharma.

Specialist advice came from teams across competition, tax and IP/IT, including Partner Geoff Carter, Senior Associates Tom Faulls and Annabel Green, and Lawyer Michael Sparks on competition matters; Partner Elissa Romanin and Senior Associate Lian Park on tax; and Special Counsel Nicole Reid on IP/IT. The transaction is subject to ACCC approval and is expected to complete in early 2027.

## Mayne Pharma's Financial Position Before the Sale

According to akta.pro [company records](https://akta.pro/company-data), 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. Underlying EBITDA declined 8% to A$28.6 million in H1 FY26, impacted by A$20.7 million in transaction and litigation costs related to the terminated Cosette transaction. The company appointed Griffin D. Buchanan as Chief Financial Officer effective August 1, 2026, completing executive turnover after the failed Cosette transaction.

## Cosette Appeal and Teva Settlement

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 reported. Mayne Pharma had sought a trading halt on October 13, 2026, pending an announcement on the court's decision regarding Cosette's appeal. Earlier, in October 2026, 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.

## 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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