Mayne Pharma FIRB Approval Deadline Extended to Nov 21, Court Hearing Set for Nov 23
Mayne Pharma’s acquisition by Cosette Pharmaceuticals faces a brief delay as FIRB extends its approval deadline, prompting a reschedule of the critical court hearing to November 23.
- FIRB extends approval deadline to November 21, 2025
- Second court hearing rescheduled to November 23, 2025
- Scheme remains conditional on FIRB and court approvals
- Indicative timetable sets effective date as November 24, 2025
- Mayne Pharma shares to suspend trading on effective date
Regulatory Delay and Court Hearing Reschedule
Mayne Pharma Group Limited (ASX – MYX) has announced a slight but notable shift in the timeline for its proposed acquisition by Cosette Pharmaceuticals, Inc. The Foreign Investment Review Board (FIRB) has unilaterally extended the statutory deadline for its approval to Friday, 21 November 2025. This extension has necessitated the rescheduling of the second court hearing to approve the scheme of arrangement, now set for Sunday, 23 November 2025.
Implications for Shareholders and Market
The scheme of arrangement remains contingent on FIRB approval, court sanction, and other conditions outlined in the Scheme Implementation Deed. Should all conditions be met, the indicative timetable points to an effective date of 24 November 2025, after which Mayne Pharma shares will be suspended from trading on the ASX. The final scheme implementation, including distribution of consideration to shareholders, is expected by 4 December 2025.
Context of the Acquisition
Mayne Pharma, a specialty pharmaceutical company with a strong presence in dermatology and women’s health, has been navigating this acquisition process carefully. The FIRB’s involvement underscores the strategic importance of the deal, given the regulatory scrutiny on foreign investments in the healthcare sector. The extension, while brief, reflects the thoroughness of the review process rather than any immediate red flags.
Looking Ahead
Investors and market watchers will be closely monitoring the upcoming court hearing and FIRB’s final decision. The updated timetable, while indicative, provides a clearer roadmap for the transaction’s conclusion. Mayne Pharma’s management has committed to keeping the market informed of any further developments, ensuring transparency as the deal progresses.
Bottom Line?
With regulatory approval deadlines extended and court dates shifted, Mayne Pharma’s acquisition journey enters a critical final phase.
Questions in the middle?
- Will FIRB grant final approval without further delays or conditions?
- How might the rescheduled court hearing impact shareholder sentiment and share price?
- What contingencies exist if any conditions of the scheme are not met on schedule?
