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Mayne shares plunge after revised sales guidance

Mayne shares

Mayne Pharma buried its bad news a long way back in its presentation to investors on Monday, but when shareholders caught on their reaction was sharp.

Mayne Pharma’s shares plunged more than 10 per cent after it revealed sales for a flagship suite of US generic drugs would not meet guidance.

The news was buried on page 107 of a 110-page update released to coincide with an investor day the company was holding on Monday. The company said in the investor update that tougher generic drug pricing was behind the revised guidance for the suite of drugs called the Teva portfolio.

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Paul

The author Paul