Mayne Completes $625 Million Acquisition of Generic Products from Teva
Mayne Pharma, an Australia-headquartered specialty pharmaceutical company has completed its previously announced $652-million acquisition of 37 approved and five filed generic pharmaceutical products from Teva Pharmaceutical Industries, following Teva’s closing of its $40.5 billion acquisition of the generics business of Allergan. Teva had to divest the products as part of requirements with the US Federal Trade Commission to secure clearance for that deal.
The acquired portfolio aligns with Mayne Pharma's focus in complex drug-delivery formulations and technologies and includes transdermal patches, gel capsules, semi-solids, and modified-release products. It expands the company’s therapeutic focus in women's health, oncology, central nervous system, and cardiovascular diseases.
Mayne develops and manufactures branded and generic products globally â€”either directly or through distribution partners â€” while applying its drug-delivery expertise for contract development and manufacturing services. Mayne Pharma has drug development and manufacturing facilities in Greenville, North Carolina and Salisbury, Australia, and offers expertise in formulating complex oral dose forms, including highly potent compounds, controlled substances, and modified release products. In the US, Mayne Pharma's operations consist of US generic products, US specialty brands, and Metrics Contract Services.
Recent investments by Mayne Pharma include: (1) the construction of a new solid oral-dose commercial manufacturing facility in Greenville, North Carolina that will more than quadruple its existing US manufacturing capacity, which involves an $80-million investment in the Greenville expansion, which will introduce new capabilities, such as multi-particulate layering, bead-coating fluid bed technology and increased capacity to manufacture highly potent products; (2) a $20-million investment at the company's manufacturing facility in Salisbury, Australia, to expand fluid-bed processing capacity and add new potent-handling capability; and (3) expansion of its global workforce to more than 700 employees with 100 new roles added in the last year alone to support existing and future growth of the business.
Source: Mayne Pharma