Mayne Pharma signs US contraceptive deal

Drugs manufacturer Mayne Pharma has signed a 20-year supply and licence agreement for a new contraceptive drug, as it seeks a bigger slice of a market deemed to be worth $US5.4 billion in the United States.

The ASX-listed pharmaceutical company on Wednesday announced it had inked a deal with Belgium-based Mithra Pharmaceuticals to commercialise a contraceptive pill containing estetrol and drospirenone.

Mayne Pharma will pay up to $US295 million ($A440 million) in cash and shares if net sales of the drug exceed $US2.25 billion ($A3.36 billion), with the product expected to be launched in first half of 2021 subject to US regulatory approval.

AAP

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