Mayne Pharma acquisition faces FIRB delay, court hearing impacted

Mayne Pharma Group Limited has informed the market that the Foreign Investment Review Board (FIRB) will not render a decision on its proposed acquisition of Cosette Pharmaceuticals, Inc. by the scheduled second court hearing date of 22 October 2025. This delay necessitates Mayne Pharma to consider rescheduling the second court hearing, with more information expected to follow. The FIRB decision is now anticipated prior to 31 October 2025.

The proposed acquisition is by way of a scheme of arrangement. Mayne Pharma assures its shareholders that no immediate action is required from their end regarding this development. The announcement, released on 16 October 2025, was authorised by the chair of the audit and risk committee.