Insights

Mayne Pharma (ASX:MYX) share price lower despite positive updates

This pharmaceutical company has made a couple of announcements today…
The post Mayne Pharma (ASX:MYX) share price lower despite positive updates appeared first on The Motley Fool Australia. –

The Mayne Pharma Group Ltd (ASX: MYX) share price is trading lower today amid broad market weakness.

At the time fo writing, the pharmaceutical company’s shares are down 1.5% to 34.5 cents.

What did Mayne Pharma announce?

Investors have been selling the pharmaceutical company’s shares despite the release of a couple of promising announcements this morning.

According to the first release, the company has expanded its Australian dermatology portfolio by licensing the Australian rights to Solaraze and the Actikerall topical solution from Almirall. Both products are approved by the Australian Therapeutic Goods Administration (TGA).

Solaraze and Actikerall are indicated for the treatment of actinic keratosis (AK), which affects approximately 40% to 60% of Australians over the age of 40. Australia has the highest incidence of AK globally, with the main cause being long-term sun exposure.

In addition to this, Mayne Pharma revealed that it has filed Fabior foam with the TGA. Fabior was acquired from GlaxoSmithKline and re-launched into the US dermatology market in 2016. It is a topical retinoid indicated in the US for the treatment of acne in patients aged 12 years or older.

Combined, the three products have a $30 million market opportunity in Australia.

Mayne Pharma’s CEO Scott Richards said, “We are pleased to partner with Almirall, a global biopharmaceutical company focused on skin health and expand our Australian portfolio with these new differentiated dermatology products. Solaraze and Actikerall will be promoted by the existing Australian sales team focusing on dermatologists and general practitioners that specialise in skin cancer.”

Nextstellis update

According to the second release, Mayne Pharma and Mithra Pharmaceuticals have announced the US commercial launch of its Nextstellis product.

Nextstellis is a new oral contraceptive which was approved by the FDA in April. It is the first and only pill containing E4, a natural estrogen produced during pregnancy that is now synthesised from a plant source. E4 is the first new estrogen introduced in the US in over 50 years.

The product will compete in the short-acting combination hormonal contraceptive market which is valued at US$3.5 billion.

Mr Richards commented; “We are delighted to launch Nextstellis, a new birth control option for women and their healthcare providers. Every woman’s body reacts differently to hormones and so from today, American women will now have a new choice of estrogen to consider when thinking about birth control options.”

“Our key priorities with this launch are to educate the market on the benefits of Nextstellis and the new estrogen E4, gain broad payor acceptance and reimbursement, and ultimately become the preferred branded oral contraceptive in the market. The launch is supported by a highly experienced national Women’s Health sales team that is now actively promoting Nextstellis to healthcare providers,” he concluded.

The post Mayne Pharma (ASX:MYX) share price lower despite positive updates appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

Swoop (ASX:SWP) share price up 5% after telco acquisition
Why the Immutep (ASX:IMM) share price is sinking 16% today
GM doubles down on electric vehicles

SILK Laser (ASX: SLA) share price climbs on equity raise update
Integrated Research (ASX:IRI) share price jumps 5% on trading update

James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!