Mayne Pharma Group reported fiscal 2026 revenue of A$383.7 million, a 6% decrease from the prior year, despite gross margin expansion of 411 basis points to 64.7%. Gross profit remained broadly flat at A$248.1 million, while underlying EBITDA declined 27% to A$34.2 million.
The company’s cash and marketable securities balance declined by A$20.4 million to A$80.0 million over the year, partly reflecting A$1.9 million in unfavorable foreign exchange movements and the absence of a A$5.6 million prior-period true-up that benefited FY25 results. Mayne Pharma received A$14.4 million from Cosette to satisfy court-ordered legal costs and interest, while employee short-term incentives totaled A$7.1 million in FY26, compared with zero in FY25.
The women’s health segment generated A$174.3 million in revenue, representing 46% of total sales and a 2% increase in U.S. dollar terms. Direct contribution from the segment reached A$57.9 million, supported by a sales force of approximately 90 representatives following a realignment. BIJUVA prescriptions rose 26% year-over-year to 84,000, with net sales increasing 20% to US$15.0 million. IMVEXXY prescriptions grew 6% to 180,000, with net sales up 8% to US$29.3 million. NEXTSTELLIS demand cycles increased 15%, adding 15 million covered lives to reach approximately 124 million total lives covered.
The dermatology and DistributeRx segment reported revenue of A$138.7 million, a 10% decline, but gross margin expanded by 1,018 basis points to 64.0%, with gross profit rising 7% to A$88.7 million. DistributeRx processed roughly 25,000 prescriptions in Q4 FY26, an 87% increase from the prior year, and added approximately 5,000 new prescribers since its March 2026 launch. Capital expenditures of US$4 million expanded Adelaide Apothecary’s capacity seven-fold, targeting up to 2.5 million prescriptions annually. The pipeline includes one contracted manufacturer and seven additional partners in negotiation across 13 products.
International revenue totaled A$70.7 million, down 7%, with direct contribution falling 38% to A$4.6 million. Demand cycles for NEXTSTELLIS in Australia surged 127% year-over-year, with sequential growth rising from 17,000 in Q1 FY26 to 49,000 in Q4 FY26.
Chief Executive Aaron Gray described FY26 as “a year of resilience and focus against a backdrop of general operational distraction and disruption,” citing the bandwidth consumed by the Cosette transaction and subsequent legal matters.
