Treasurer could sink pharma deal

Mayne's sale to US pharma Cosette is again in doubt after Federal Treasurer Jim Chalmers said he was considering whether he should make orders prohibiting the acquisition, citing national interest.

In a letter from Chalmers that Cosette provided to Mayne, the Treasurer said that his "preliminary view is that the Proposed Acquisition would be contrary to the national interest, on the grounds that it would negatively impact the Australian economy and community". Mayne's share price fell by just over a third on the news.

Chalmers' concern is the same as that of South Australian Premier Peter Malinauskas, namely that Cosette has indicated it plans to close Mayne's Salisbury manufacturing site in Adelaide if the deal goes through. The site employs around 200 people.