Mayne Pharma rejects US probe report

Mayne Pharma says it is cooperating with a US antitrust investigation and has labelled a report to the contrary as inaccurate.

Mayne Pharma has rejected a report that it is not cooperating with a United States investigation into generic drug companies and drug pricing.

As shares in Mayne fell 12 per cent on Friday, the company issued a statement to the ASX that "contrary to an inaccurate statement made in the US press overnight" the company was cooperating with the Department of Justice (DoJ) investigation.

Mayne disclosed on June 28 that it was one of several generic drugs companies issued with a subpoena by the antitrust division of the DoJ in the pricing investigation.

A Bloomberg report said Mayne Pharma was not cooperating with the investigation, however that report appeared to have been corrected on Friday morning.

Mayne Pharma said it does not believe the investigation will have a material impact on future earnings.

Shares in the drug company were down 21 cents, or 12.3 per cent, at $1.495 at 1150 AEDT.