Mayne Pharma Group Ltd (ASX: MYX) today announced the launch of doxycycline monohydrate immediate release (IR) capsules in the United States.
The capsules are a generic alternative to Monodox, a drug that treats a number of skin infections including severe acne. The company estimates that the US market size of doxycycline monohydrate capsules is US$30 million.
The launch takes Mayne Pharma's product range to more than 55, with another 30 drug products in the pipeline. Generic drug launches are a source of growth for Mayne Pharma and as part of its half year results, the company announced that it expected to launch four generic drugs in 2018.
Shareholders will hope that new product launches can boost the share price, which has taken a beating lately.
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