Mayne Pharma Closes $652 Million Acquisition of Generic Drug Portfolio from Teva and Allergan
Summary
Following this acquisition, $80 million has been committed to the Greenville expansion, which will introduce new capability, such as multi-particulate layering, bead-coating fluid bed technology and significantly increased capacity to manufacture highly potent products.“Our expanded product offering from the Teva/Allergan acquisition provides Mayne Pharma with an opportunity to deepen relationships across the industry – with patients and customers and continuing through to our contract manufacturing and active pharmaceutical ingredient partners.Mayne Pharma has drug development and manufacturing facilities in Greenville, North Carolina, USA, and Salisbury, Australia, and offers expertise in formulating complex oral dose forms including highly potent compounds, controlled substances, and modified release products.Following this acquisition, $80 million has been committed to the Greenville expansion, which will introduce new capability, such as multi-particulate layering, bead-coating fluid bed technology and significantly increased capacity to manufacture highly potent products.· 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.· Expansion of the 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.The Teva/Allergan acquisition was financed through an extension to existing debt facilities and an underwritten $661-million equity raising that was oversubscribed by both institutions and retail investors.“Our expanded product offering from the Teva/Allergan acquisition provides Mayne Pharma with an opportunity to deepen relationships across the industry – with patients and customers and continuing through to our contract manufacturing and active pharmaceutical ingredient partners.Mayne Pharma has drug development and manufacturing facilities in Greenville, North Carolina, USA, and Salisbury, Australia, and offers expertise in formulating complex oral dose forms including highly potent compounds, controlled substances, and modified release products.