Cosette Pharmaceuticals, a Bridgewater, New Jersey-based bio/pharmaceutical company, has agreed to acquire Mayne Pharma Group, a Raleigh, North Carolina-based bio/pharmaceutical company, for $430 Million.  

The acquisition would strengthen Cosette’s product position in dermatology and women’s health and expand Cosette’s commercial and operational capabilities. Upon close, Cosette will market 12 patent-protected products focused on women’s health and dermatology, including several approved therapies and several programs in clinical development. In addition, the combined company will have two US Food and Drug Administration-approved manufacturing sites – one in Lincolnton, North Carolina, and another in Salisbury, South Australia. 

The transaction, which comprises the acquisition of 100% of Mayne Pharma’s outstanding shares by way of a scheme arrangement, is expected to close in the second quarter of 2025, subject to customary closing conditions, including customary regulatory and shareholder approvals. The combined company will be privately held upon completion of the transaction. 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 in the absence of a superior proposal and subject to an independent expert concluding the scheme is in the best interests of Mayne Pharma’s shareholders.  

Source: Cosette Pharmaceuticals