Mayne Pharma: Yet Another Transformational Acquisition

Bell Potter


Mayne Pharma’s latest US acquisition is expected to be strongly accretive to earnings in FY17. We estimate 31% EPS accretion. The entitlement offer to existing shareholders is offered at $1.28 which represents a 32% discount to target price of $1.89. The transaction elevates MYX to become one of the larger producers of generic medicines in the US market. We expect further bolt on acquisitions in the near term in the specialty brands division. We recommend existing shareholders take up their full entitlement offer. Full report attached and John Hester provides a video summary

Bell Potter

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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