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Mayne Pharma CEO Steps Down Amid $475m Metrics Contract Services Sale

CEO’s Departure Marks Turning Point For Mayne Pharma

 
• By Rosalind Rei

Significant change is brewing at Mayne Pharma, with the Australian firm announcing the proposed sale of its US-based CDMO business for nearly half-a-billion dollars. At the same time, long time CEO Scott Richards is heading for the exit door.

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Richards had been with Mayne since 2012 • Source: Shutterstock

Mayne Pharma’s long serving CEOScott Richards intends to step down from the Australian firm, after the chief exec role was shifted to the US on a permanent basis. His departure comes at a strategic crossroads for Mayne Pharma, which has agreed to sell its Metrics Contract Services contract manufacturing unit to Catalent for approximately $475m.

Richards’ announcement that he would step down as Mayne Pharma’s CEO came after the board relocated the CEO role from Australia to the US permanently

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