ASX Health Stocks: Mayne Pharma launches women contraceptives in US, Oventus' administrators take over

Mayne Pharma launches a new line of women contraceptive in the US
Oventus’ administrators have gone to work

Mayne Pharma (ASX: MYX) and Brussels-listed Mithra Pharma announced the launch of HALOETTE, a vaginal hormonal contraceptive ring into the US market.

HALOETTE contraceptive is a generic version of NUVARING, a combined hormonal contraceptive flexible ring for the prevention of pregnancy.

According to IQVIA, the maker of NUVARING, sales were approximately US$564 million for the 12 months ended November.

“This is another example of our commitment to providing women with more contraceptive choice,” said Mayne Pharma’s CEO, Shawn O’Brien.

“Mayne Pharma continues to expand its women’s health portfolio with the recent launch of NEXTSTELLIS in the US and Australia, and our new license agreement for ANNOVERA, IMVEXXY, and BIJUVA from TherapeuticsMD.”

Under the terms of the long-term license and supply agreement, Mayne Pharma will pay Mithra a milestone of EUR 1.6 million.

Mayne Pharma’s focus is on pharmaceutical products for the US women’s health and dermatology market.

The company says the women’s health market offers a compelling opportunity for strong growth.

Only 1% of the roughly US$200 billion spent on health-care research and development focuses on women’s health, yet women make up 50% of the population.

Mayne Pharma share price today:

Oventus’s administrators get to work

Oventus Medical (ASX:OVN) says its administrators have have now convened a meeting of creditors as part of the company’s restructuring initiative.

In June, Oventus said it was seeking voluntary administration in order to restructure the company.

The administrators will undertake a review and assessment of the company’s operations, and may look to undertake a sale or recapitalisation process during the administration period.