AstraZeneca builds in China as Cosette buys Mayne

The week has ended with a flurry of M&A in the drug industry, with Cosette Pharmaceuticals agreeing to buy Australia’s Mayne Pharma and AstraZeneca buying the Chinese subsidiary of FibroGen.

First up, Cosette’s AUD 672 million (around $430 million) play for Mayne Pharma, which the company said would build its presence in women’s health in the US and expand its geographic reach.

Both companies have a focus on women’s health and dermatology, and adding Mayne to Cosette’s stable will extend the US company’s portfolio with brands like oral contraceptive Nextstellis, which saw sales in fiscal…