Mayne Pharma FY26 Revenue $383.7m, EBITDA Down 33%

Mayne Pharma (ASX:MYX) released unaudited fourth quarter and forecast full year results for the periods ended 30 June 2026. Revenue for 4Q FY26 was $86.5 million, down 22 per cent on the prior corresponding period, with gross profit of $56.3 million, direct contribution of $21.3 million (down 30 per cent) and underlying EBITDA of $4.6 million (down 76 per cent). Revenue was down 22 per cent reflecting a decline in dermatology sales, with gross margin accreting 374 basis points to 65 per cent due to price discipline, mix effects and channel execution. For FY26, revenue was $383.7 million (down 6 per cent), gross profit $248.2 million, direct contribution $107.3 million (down 2 per cent) and underlying EBITDA $31.7 million (down 33 per cent). Net cash flow was negative $6.7 million for the quarter, and cash and marketable securities were $80.0 million at 30 June 2026. The company received $14.4 million from Cosette on 5 June 2026 in court-ordered recovery of legal costs and interest; Cosette's appeal of the October 2025 judgment was heard in June 2026 and the decision has been reserved.

Women's Health revenue was US$28.6 million in the quarter, flat on the prior corresponding period, with BIJUVA total prescriptions up 21 per cent, IMVEXXY prescriptions up 9 per cent and net sales of US$9.2 million (up 36 per cent), NEXTSTELLIS demand cycles up 16 per cent, and ANNOVERA net sales of US$5.6 million (down 29 per cent). Dermatology/DistributeRx revenue was US$22.0 million (down 14 per cent) with direct contribution of US$6.3 million (down 29 per cent); gACCUTANE closed the quarter at approximately 62 per cent category market share, and the company understands a generic RHOFADE was launched into the US market in the third week of July 2026. DistributeRx generated 62,000 total prescriptions in its first full quarter, an increase of 63 per cent, with new prescriptions of 42,000 (up 104 per cent), and at 30 June 2026 was in active discussions with seven pharmaceutical companies covering approximately 13 products. A lease was executed for a new automated Adelaide Apothecary facility in Lexington, Kentucky, lifting annual capacity over two phases approximately seven-fold to more than 2.5 million prescriptions, with up to US$2 million invested to complete Phase 1 and operations expected to commence in early 2027. International revenue was $16.0 million for the quarter (down 31 per cent). Audited FY26 results are scheduled for release on or around 27 August 2026.