Mayne Pharma completed product licensing transaction with TherapeuticsMD, Inc.

Mayne Pharma Group Limited (ASX: MYX) announced that it had completed the exclusive product licensing transaction with TherapeuticsMD, Inc., a NASDAQ listed company, which was earlier announced on 05 December 2022. As per the license agreement, the company has secured a portfolio of on-market women’s health products from TherapeuticsMD, Inc. comprising three patent-protected novel women’s health products: ANNOVERA, IMVEXXY®, and BIJUVA®.

The company has also secured a portfolio of prenatal vitamins in the US and certain assets comprising inventory and regulatory filings to support the operation and commercialisation of the portfolio. In regards to the contract, Mayne Pharma paid a cash consideration to TherapeuticsMD, Inc of US$140 million and a US$13.1 million payment for acquired net working capital and pre-paid royalties. The company has funded this acquisition via a combination of cash, existing debt facilities, and a US$27.95 million convertible note to Rubric Capital Management LP.

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