Meda has announced that it is to acquire a product portfolio from pharmaceutical firm Wyeth comprising of ten products. The value of this transaction is reported to be approximately SEK 525 million (39.2 million pounds).
As a result of this acquisition, Meda forecasts that its sales figures for the remaining eight months of 2007 will be increased by around SEK 160-170 million, with the firm also enhancing its position in Italy, France and the rest of the European market.
The company reports that the largest acquired pharmaceutical is central nervous system compound Seresta (oxazepam), a benzodiazepine anti-anxiety treatment used as a therapy for withdrawal symptoms for substance-abuse patients and sleep disorders.
Other key substances covered by this agreement include cancer and multiple sclerosis treatment mitoxantron, sleep disorder drug zaleplon and lormetazepam, an anti-anxiety and tranquilising compound.
Anders Lonner, chief executive officer of Meda, said: "Meda and the US pharma-company Wyeth have reached an agreement regarding acquisition of ten well-established pharmaceuticals in Europe.
"The agreement with Wyeth is one example of how we use our strong platform through Europe for profitable, marginal deals."
In January 2007, Meda announced the completion of its acquisition of the pharmaceutical division of 3M in Europe, with the firm assuming all of that company's operations on the continent.See all the latest jobs in Pharmaceutical