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Mayne Pharma Stock Plummets 30% as Cosette Threatens to Cancel $432 Million Deal Due to Material Adverse Change
ByAinvest
Tuesday, May 20, 2025 10:19 pm ET1min read
Mayne Pharma shares plummeted 30% after US-based Cosette Pharmaceuticals initiated a review of their $432.1 million acquisition deal due to a "material adverse change" in Mayne's business and finances. Cosette cited Mayne's trading performance, legal case with TherapeuticsMD, and FDA talks as the reasons for the review. Mayne rejected the issues raised and remains open to talks to resolve the matter.
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