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Mayne Pharma forecasts up to $215m revenue for 1H25 as growth momentum continues

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By Imelda Cotton - 
Mayne Pharma ASX MYX December 2024 half-yearly market update
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Mayne Pharma (ASX: MYX) has reported a forecast revenue of between $210 million and $215m for the first half of the 2025 financial year, reflecting growth of approximately 14% on the previous corresponding period (pcp).

The company is also expecting to report underlying EBITDA of between $30m and $32m, representing an increase of almost 300% on the pcp.

The underlying EBITDA will be driven by continued growth across Mayne’s Women’s Health portfolio, with increased operating leverage and improved margins in its Dermatology product sales.

Positive trend

Chief executive officer Shawn Patrick O’Brien said he expected the positive trend to continue.

“We have experienced solid trading conditions in the first half as we execute against our corporate strategies, with robust revenue growth recorded, particularly within our Women’s Health segment,” he said.

The company is also anticipating seasonal cost impacts from patient payment programs as deductibles reset and an increase in promotional expenses for Women’s Health products to generate additional revenue.

Mayne’s cash and marketable securities at the end of December totalled $124.9m, a reduction of $4.6m compared to 31 October.

Conservative structure

Chair Frank Cordella told shareholders that the board would continue with its conservative capital management structure.

“Management is focused on delivering operational excellence and achieving our growth goals, and [the board] will continue to assess complementary and accretive product partnerships or acquisitions that we can leverage into our existing Women’s Health and Dermatology ecosystems,” he said.

“We also continue to invest in the upgrade of physical plant and equipment at our facility in South Australia.”

“[We] believe our portfolio of branded medicines within Women’s Health and Dermatology, coupled with the leverage we can generate through our existing infrastructure and efficiencies, will deliver improvements in our financial and operating metrics.”