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Home Industry News Meda publishes interim report

Meda publishes interim report

8th August 2007

Meda has published its interim half-year report for the period from January to June 2007, with the firm reporting a 41.4 per cent increase in net sales for the group to 3,747.8 million Swedish kronor (274.75 million pounds).

The company cited the product portfolio acquisition from 3M as a major contributor to this rise, as Aldara, Minitran and Tambocor continued their robust sales, while sales of Azelastine and Novopulmon also rose during the second quarter.

Furthermore, the recently-acquired product portfolio from Wyeth also contributed sales of 34.6 million Swedish kronor from May.

In addition to this acquisition of ten pharmaceutical products during the first half of 2007, the company also established its operations in the US through the strategic acquisition of MedPointe.

“Meda continues to build on its operations with the same business concept, but with new dimensions,” the company reports.

“In six years, the company developed from a small Swedish pharma company to a north European operation, to a pan-European enterprise and, through the US company acquisition, to an international specialty pharma company with expanded ambitions,” it added.

The firm states that its strategy is being applied consistently, citing the continued acquisition of products and expansion into new markets aiding the company in achieving its goal of profitable growth with controlled risk.

Meda purchased MedPointe last month for the sum of $520 million (253.5 million pounds) and 17.5 million newly-issued Meda shares.

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