Bridgewater-based pharmaceutical giant Cosette Pharmaceuticals has made a $672 million cash takeover bid for women’s health and dermatology group Mayne Pharmaceuticals.
The Boards of Directors of both companies have approved the transaction and Mayne Pharma’s Board of Directors has unanimously recommended that its shareholders vote in favor of the transaction.
The combination of the two companies will create a leading women’s health and dermatology focused pharmaceuticals company in the U.S. with an established presence in international markets, utilizing the strengths of two industry players to drive innovation and expand access to women’s health therapies.
“This acquisition marks a transformational step for Cosette, adding patented, high-growth products to solidify our leadership in women’s health in the U.S. and expanding our reach globally,” Apurva Saraf, president and CEO of Cosette Pharma said. “By combining Cosette’s strong portfolio with Mayne Pharma’s proven commercial expertise, the combined company will be well positioned to further invest in innovation, portfolio expansion and better serve our patients. We look forward to a timely closing and welcoming Mayne Pharma to the Cosette family.”
Joining the Cosette team amplifies our shared mission to improve lives through innovative and accessible Women’s health and dermatology medicines,” Shawn Patrick O’Brien, CEO, Mayne Pharma, said. “This transaction represents a unique opportunity for our employees, customers, and patients. Together, we will extend the reach of important therapies, drive innovation, and improve patient access.”
The deal, expected to close in the second quarter of 2025 would be beneficial for several reasons. It would:
- Strengthen Cosette’s dermatology and women’s health businesses;
- Expand Cosette’s commercial and operational capabilities;
- The combined company will have two state-of-the-art FDA -approved manufacturing sites; and
- Adds multiple sustainable and growing patent-protected products
