Mayne Pharma to shell out $120M for Metrics

Mayne Pharma, an Australia-based drugmaker, has jumped the Pacific to buy Metrics, a privately owned U.S. niche drug developer and contract manufacturer, in a deal that could reach $120 million. Mayne will pay Metrics, which was advised by Fairmount Partners, $105 million on closing and up to $15 million more by June if Metrics hits certain performance goals. The Greenville, NC-based Metrics has 300 employees. It had sales of $51.6 million and earnings of $16.1 million in the 12 months that ended June 30. Report

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