BUZZ-Australia's Mayne Pharma plunges; no update on potential buyout interest

Reuters
2024-11-21
BUZZ-Australia's Mayne Pharma plunges; no update on potential buyout interest

** Shares of Australian drugmaker Mayne Pharma MYX.AX fall as much as 7.7% to A$4.11, their lowest since Aug. 23

** Co provides no update on potential buyout interest, at its annual general meeting

** MYX earlier in the month said Jefferies to assist co in terms of looking for a possible bidder

** Stock posts its biggest intraday pct fall since Nov. 13

** Co says total revenue for the July-Oct period came in at A$132.5 mln ($86.32 mln), lower than the A$137 mln reported in the previous corresponding period

** Two analysts covering the stock rate it "buy" or higher, their median PT is A$2.0 – LSEG data

** Stock had fallen 32.7% this year, as of last close

($1 = 1.5349 Australian dollars)

(Reporting by Nichiket Sunil)

((Nichiket.Sunil@thomsonreuters.com;))

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