In today’s briefing:
- Mayne Pharma (MYX AU): A Favourable Court Ruling
- Mayne Pharma (MYX AU): Court Rules Cosette Cannot Walk
- Risk Has Shifted To More Upside For MinRes
- Telix Pharmaceuticals (TLX AU): Strong Operating Performance in 3Q25; 2025 Guidance Raise
Mayne Pharma (MYX AU): A Favourable Court Ruling
- The NSW court has dismissed all Cosette claims relating to terminating its scheme implementation deed with Mayne Pharma (MYX AU).
- While Cosette can appeal, the chances that the judgment will be overturned are low due to the comprehensive judgment.
- The ruling will provide more certainty regarding the interpretation of MACs. The scheme is subject to FIRB approval, which should be forthcoming. At the last close, the spread was 30.7%.
Mayne Pharma (MYX AU): Court Rules Cosette Cannot Walk
- In a watershed decision, the Supreme Court of NSW ruled Cosette cannot terminate its Scheme for Mayne Pharma (MYX AU).
- The hearings were the first time a material adverse change clause had been considered by an Australian court under such circumstances.
- The transaction still requires FIRB signing off. Concerns linger over whether Cosette intends to close a South Australian plant. Mayne has previously dispelled these concerns.
Risk Has Shifted To More Upside For MinRes
- The Chartist reports shares in Mineral Resources have seen their low, with risk now shifting to more upside.
Telix Pharmaceuticals (TLX AU): Strong Operating Performance in 3Q25; 2025 Guidance Raise
- Telix Pharmaceuticals (TLX AU) reported 3Q25 revenue of $206M, up 53% YoY and 1% QoQ. Mainstay PSMA imaging revenue increased 17% YoY and 1% QoQ to $155M, driven by Illuccix.
- Telix has raised 2025 revenue guidance to $800–820M from $770–800M. During 9M25, the company recorded revenue of $512M, indicating 4Q25 revenue of $288–308M, up 45% QoQ.
- We are positive on the long-term growth prospect. With strong commercialization of existing products, rich pipeline, and localized manufacturing prowess, Telix is well-positioned to become a global radiopharmaceutical powerhouse.
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