Meda publishes year-end report

Meda has published its year end report for 2007, with the company reporting its financial figures in addition to operating and product highlights for the past 12 months.

During the last year, net sales increased by 55 per cent to 8,144.6 million Swedish kroner (659.3 million pounds), with this increase primarily attributed to the product portfolio acquired from 3M in Europe, which resulted in sales of 2,045.4 million Swedish croner.

An acquisition in the US also added sales of 801.3 million Swedish kroner.

Profit after tax was 832.7 million Swedish kroner, with earnings per share reaching 3.63 Swedish kroner.

During 2007, the company submitted registrations for Bema Fentanyl and expanded its development programme for further indications.

It also announced that it is developing a new product containing azelastine and fluticasone to treat patients with allergic rhinitis.

“Meda completed a major clinical trial to compare effects of simultaneous treatment using azelastine nasal spray and fluticasone nasal spray to monotherapy with either substance,” the company said.

“Results showed that efficacy of simultaneous treatment considerably surpassed that of either single substance.”

Meda also reported that it had completed its acquisition of Recip in December 2007, with the company being consolidated into the Meda group.

In August 2007, Meda completed the strategic purchase of MedPoint for the sum of 5,229 million Swedish kronor.