Specialty pharmaceutical company Mayne Pharma Group has fared worse than anticipated after revealing revenues, earnings and gross margins declined, pushing it to a loss in the first half largely due to more competition on key generic drugs.
In November, the company flagged that revenue to the end of October was $154 million, down 16 per cent, reflecting more competition in generic products such as liothyronine (a manufactured form of the thyroid hormone) and dofetilide (used to restore normal heart rhythm).
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
