Meda completes acquisition of MedPointe

Meda has announced the completion of its strategic acquisition of MedPointe, with the deal facilitating Meda’s entry into the US market and marking its status as a world-class speciality pharmaceutical firm.

The final price of the transaction was 5,229 million Swedish kronor (381 million pounds), with the consolidation of MedPointe initiated immediately

Further information relating to this acquisition and the impact upon the firm will be published in the company’s interim report for the third quarter of the 2007 fiscal year in October.

As a result of this transaction, Meda has become a pharmaceutical firm with full marketing coverage across Europe and the US, with annual revenues in the region of nine billion Swedish kronor.

“Meda’s pipeline which is open for the US market can now be commercialised in own regimen through a wholly-owned subsidiary and thereby retaining 100 per cent of the value of the product assets,” the company reports.

“Likewise Meda, through its strong European organisation, will be able to capitalise on product development opportunities based on MedPointe’s pipeline.”

The firm added that the new transatlantic firm would be able to develop geographical market and product portfolio synergies as a result of the merger.

When announcing the acquisition last month, Meda noted that the deal would enable the company to develop its products within the firm, rather than outlicense its pharmaceuticals.