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Jacob Shteyman

UNBELIEVABLE: Treasurer blocks us takeover of aussie pharma company | History Defined

United States Jim Chalmers Firb Australia

The treasurer has killed off a deal for a US company to take over medicine maker Mayne Pharma. (Flavio Brancaleone/AAP PHOTOS)

A big-money bid for an Australian medicine maker has been scuppered by Treasurer Jim Chalmers after the Foreign Investment Review Board found the deal was not in the national interest.

The sticking point for the $672 million acquisition of Mayne Pharma came after the bidder, US healthcare giant Cosette, threatened to sell or shut down the Australian company's factory in Adelaide.

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