Cosette Pharmaceuticals → Mayne Pharma Group
withdrawnCosette Pharmaceuticals agreed to acquire Mayne Pharma for about US$430m (~A$615m), aiming to combine both companies' women's health and dermatology portfolios — but the deal was later terminated following a court ruling and disputes over alleged breaches.
Cosette wanted to combine its 350+ person commercial team with Mayne Pharma's 480+ team to create a leader in women's health and dermatology, adding 12 patent-protected products including VYLEESI, NEXTSTELLIS, and ANNOVERA.
Mayne Pharma's board initially agreed the deal gave shareholders access to a larger combined commercial platform, though the agreement later collapsed amid a dispute over alleged breaches.
Not publicly disclosed.
A rare instance of a signed scheme falling apart post-signing; coverage attributed the collapse to a court ruling and disputes over alleged breaches between the parties.
Deal mechanics
Santander US Capital Markets and UBS Investment Bank (financial advisers); Ropes & Gray and Corrs Chambers Westgarth (legal advisers) to Cosette
Jefferies Australia (financial adviser); Gilbert + Tobin and Arnold & Porter (legal advisers) to Mayne Pharma
All-cash agreement at A$7.40/share (~US$430m total)
Not publicly disclosed
Not reached — the deal was terminated before regulatory completion
Not publicly disclosed