In the past couple of weeks fund managers have been asking, “What’s with Mayne Pharma?”, referring to its 45 per cent return since Radar first covered it two months ago.
And well should the fundies ask.
At 47 cents the specialty pharma stock has been on a ripsnorting ride since purchasing the US-based Metrics for $US120 million and has doubled in the past six months, but is well off its high of 77 cents in early 2011.
Until now, the Australian listed speciality pharmaceutical company Mayne Pharma stock (ASX code MYX) had been abandoned by brokers and most fund managers after being split up, diced and spliced to the point where the only winners were investment bankers and lawyers. Sydney Morning Herald – Read more…