Mayne Pharma Completes $652M Teva/Allergan Generic Acquisition

Mayne Pharma has completed its $652 million transaction with Teva and Allergan, gaining 37 approved and five filed generic pharmaceutical products.
This transaction is among the largest generic pharmaceutical divestitures and follows Teva’s $40.5 billion acquisition of Allergan’s generic drug business. Mayne Pharma acquired more products than the other 11 buyers.
 
The acquired portfolio aligns with Mayne Pharma’s focus in complex drug delivery formulations and technologies and includes transdermal patches, gel capsules, semi-solids and modified-release products. As a result of the transaction, Mayne is expanding its focus into therapeutic areas that include women’s health, oncology, central nervous system, and cardiovascular.
 
“We are extremely pleased to complete this transaction that establishes Mayne Pharma as a key player in the U.S. generic market,” said Stefan Cross, president of Mayne Pharma USA. “This portfolio is highly profitable and will significantly extend our size, scale and reach in the United States. Recent investments in people, systems and facilities will readily support the rapidly growing organization and ensure we continue to deliver exceptional service and high-quality products to our customers. Since Mayne Pharma entered the U.S. market in 2012, our company has established its organization so it could act quickly when attractive growth opportunities like this presented themselves.”
 
Mayne Pharma’s recent investments include construction of a new solid oral-dose commercial manufacturing facility in Greenville, NC, that will more than quadruple existing U.S. manufacturing capacity. The company will also invest $80 million at the site to add capabilities such as multi-particulate layering, bead-coating fluid bed technology and increased capacity to manufacture highly potent products. Additionally, Mayne will invest $20 million at its manufacturing facility in Salisbury, Australia, to expand fluid bed processing capacity and add new potent handling capability.
 
The expansion will add more than 700 employees with 100 new roles to support existing business and future growth.
 
 “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’s focus has always been to deliver a reliable supply of high-quality, cost-effective medications that enhance the quality of patient lives.”  Mr. Cross said.