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Mayne’s Generics Segment Sees Double-Digit Drop In Sales

Company Expects NuvaRing Generic And Pipeline Products To Drive Growth

 
• By Akriti Seth

Despite a double-digit drop in sales of generics business for the financial year ending 30 June 2020, South Australia-based Mayne filed for three generics with the US FDA and a “potential launch of generic NuvaRing.”

Covid19_Economic_Fallout
Despite the impact of COVID-19, Mayne has put together a plan to stabilize its generics segment. • Source: Shutterstock

Mayne Pharma’s generics business reported sales of AUS$253.0m (US$169.8m) for its financial year ending 30 June 2020, a 21% drop compared with a year earlier in AUS$ terms, and 26% in US$ terms. The generics segment, which is focused on the US market, also saw a 42% drop in full-year gross profit to AUS$95.7m.

South Australia-based Mayne said that its generics business was impacted by competition on its key products including liothyronine, dofetilide and...

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