Mayne Pharma Wins Back $14.4M in Legal Costs From Cosette Court Battle
Mayne Pharma receives $14.4M legal costs payment from Cosette
Mayne Pharma Group Limited (ASX: MYX) has confirmed receipt of $14,410,714.49 from Cosette Pharmaceuticals, Inc. on 5 June 2026, representing the recovery of legal costs, associated application costs, and interest. The payment was made in accordance with orders by the Supreme Court of New South Wales dated 29 May 2026. The Adelaide-based specialty pharmaceutical company describes the receipt as another successful milestone in an ongoing legal dispute with Cosette.
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What’s behind the payment — the Cosette dispute explained
The legal proceedings between Mayne Pharma and Cosette have progressed through several stages since early 2025. The timeline below summarises the key events:
- February 2025 — Mayne Pharma and Cosette sign a Scheme Implementation Deed.
- June 2025 — Mayne Pharma commences proceedings against Cosette following Cosette’s purported termination of the Deed.
- October 2025 — The Supreme Court of NSW delivers judgment in Mayne Pharma’s favour, dismissing all of Cosette’s claims; an adverse costs order is made against Cosette.
- January 2026 — Cosette appeals the October 2025 judgment.
- 2–3 June 2026 — The appeal is heard in the NSW Court of Appeal; a decision is reserved.
- 5 June 2026 — $14,410,714.49 received by Mayne Pharma.
An adverse costs order means the losing party is directed by the court to pay the winning party’s legal costs, either as agreed between the parties or as formally assessed by the court. In this instance, the order was made against Cosette following its unsuccessful defence of Mayne Pharma’s proceedings. The proceedings have, to this point, moved consistently in Mayne Pharma’s favour.
What this payment covers
The $14,410,714.49 received from Cosette comprises three distinct components, each arising from the court’s orders rather than any negotiated settlement:
- Recovery of Mayne Pharma’s legal costs in the proceedings
- Costs associated with Mayne Pharma’s application for costs
- Interest
| Component | Description | Included in $14.41M |
|---|---|---|
| Legal costs recovery | Reimbursement of Mayne Pharma’s costs incurred in the proceedings | Yes |
| Application for costs | Costs associated with Mayne Pharma’s application to have costs assessed and ordered | Yes |
| Interest | Interest accrued on the outstanding costs amount | Yes |
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What investors should watch next
The appeal lodged by Cosette in January 2026 was heard on 2 and 3 June 2026, with the NSW Court of Appeal reserving its decision. That outcome remains pending and represents the next material event in this matter for investors to monitor.
Importantly, the $14,410,714.49 payment already received by Mayne Pharma is not contingent on the appeal’s resolution. The funds relate to costs ordered and upheld under the original October 2025 judgment, meaning Mayne Pharma has recovered over $14.4M regardless of how the appellate court ultimately rules. The appeal does, however, carry residual implications for the underlying dispute, and its outcome warrants attention.
Mayne Pharma is an ASX-listed specialty pharmaceutical company focused on commercialising novel pharmaceuticals, offering patients better, safe and more accessible medicines. The company is a leader in dermatology and women’s health in the United States and also provides contract development and manufacturing services to clients worldwide. Mayne Pharma has a 40-year track record of innovation and success in developing new oral drug delivery systems, with these technologies successfully commercialised in numerous products that continue to be marketed around the world.
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