Cosette Pharmaceuticals has entered into a definitive agreement to acquire all the outstanding shares of Mayne Pharma Group Limited at AUD 7.40/share for a total consideration of approximately USD 430 Million.

The Boards of Directors of both companies have approved the transaction and Mayne Pharma’s Board of Directors has unanimously recommended that its shareholders vote in favor of the transaction. The transaction is expected to close in the second quarter of 2025.

“This acquisition marks a transformational step for Cosette, adding patented, high-growth products to solidify our leadership in women’s health in the US and expanding our reach globally. By combining Cosette’s strong portfolio with Mayne Pharma’s proven commercial expertise, the combined company will be well positioned to further invest in innovation, portfolio expansion and better serve our patients. We look forward to a timely closing and welcoming Mayne Pharma to the Cosette family,” said Apurva Saraf, President and CEO of Cosette Pharma.

“Joining the Cosette team amplifies our shared mission to improve lives through innovative and accessible Women’s health and dermatology medicines. This transaction represents a unique opportunity for our employees, customers, and patients. Together, we will extend the reach of important therapies, drive innovation, and improve patient access,” said Shawn Patrick O’Brien, CEO, Mayne Pharma.

The combination will create a leading women’s health and dermatology focused pharmaceuticals company in the U.S. with an established presence in international markets, utilizing the strengths of two industry players to drive innovation and expand access to women’s health therapies.

Cosette will utilize its market-leading commercial and operational capabilities, backed by its 350+ strong team and a leading portfolio of women’s health and dermatology products alongside Mayne Pharma’s complementary strength in these specialty areas. Mayne Pharma is backed by a 480+ strong team, including highly effective and successful sales and marketing teams in both specialties. The combined company will have two state-of-the-art FDA -approved manufacturing sites – one each in Lincolnton, North Carolina and Salisbury, South Australia – to service patients globally.

Upon close, Cosette will market 12 patent-protected products focused on women’s health and dermatology, including leading brands such as VYLEESI®, INTRAROSA®, NEXTSTELLIS®, ANNOVERA®, BIJUVA®, IMVEXXY® and RHOFADE®, and several programs in clinical development.