US Takeover of Australian Pharmaceutical Company Blocked by Treasurer

The proposal would be contrary to Australia’s national interest, Chalmers was advised.Treasurer Jim Chalmers at a press conference at Parliament House in Canberra, Australia on July 30, 2025. AAP Image/Mick Tsikas11/23/2025|Updated: 11/25/2025Treasurer Jim Chalmers has blocked the buyout of South Australian pharmaceutical company Mayne Pharma on national interest grounds.Chalmers said he had accepted the recommendation from the Foreign Investment Review Board (FIRB) to block American-based Cosette from acquiring a 100 percent interest in Mayne Pharma.Monica O’Shea is a reporter based in Australia. She previously worked as a reporter for Motley Fool Australia, Daily Mail Australia, and Fairfax Regional Media. She can be reached at monica.o'[email protected]Author’s Selected Articles