Meda acquires Wyeth portfolio

Published: 27-Apr-2007
Regulatory

Swedish firm Meda and the US pharma company Wyeth have reached an agreement regarding acquisition of 10 well-established pharmaceuticals in Europe.


Swedish firm Meda and the US pharma company Wyeth have reached an agreement regarding acquisition of 10 well-established pharmaceuticals in Europe.

'The agreement with Wyeth is one example of how we use our strong platform throughout Europe for profitable, marginal deals,' said Anders Loenner, Meda's ceo.

The acquired products are highly recognised brands with good profitability, according to Meda. No employees will transfer from Wyeth to Meda in conjunction with the acquisition, which is expected to inject sales of approximately SEK 160m (or Euro 17.5m) into Meda's operation for the remainder of 2007. The purchase price is about SEK 525m (€57.5), which will be totally financed via existing credit facilities.

Through the acquisition, Meda strengthens its position on two of its most important markets: Italy and France. These countries account for about 60% of the acquired products' sales.

The largest acquired product is Seresta, a central nervous system (CNS) drug with the active substance oxazepam.

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