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Australia May Block $672M Cosette-Mayne Pharma Deal

11/1/2025

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Story summary

The Australian federal government may block Cosette Pharmaceuticals Inc.'s $672 million takeover of Mayne Pharma Group Ltd, sending shares down over 30%.
Treasurer Jim Chalmers says the deal could harm the economy, citing Cosette's plan to close Mayne's Adelaide site employing about 200 people.
Mayne Pharma has denied Cosette's claims of a 'material adverse change' in its business.
Mayne Pharma recently won a court ruling against Cosette's withdrawal from the deal.

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Story summary

The Australian federal government may block Cosette Pharmaceuticals Inc.'s $672 million takeover of Mayne Pharma Group Ltd, sending shares down over 30%.
Treasurer Jim Chalmers says the deal could harm the economy, citing Cosette's plan to close Mayne's Adelaide site employing about 200 people.
Mayne Pharma has denied Cosette's claims of a 'material adverse change' in its business.
Mayne Pharma recently won a court ruling against Cosette's withdrawal from the deal.