Meda acquires OTC product in the U.S.
Meda (STO:MEDAA) has signed an agreement to acquire MidNite, an OTC sleep-aid product. MidNite is well established in the U.S. and holds a market leading position within a growing category. Annualized revenues for MidNite are approximately 100 MSEK. After the MidNite acquisition, Meda's OTC business in the US will have pro forma revenues of close to 400 MSEK. The acquisition is expected to be accretive to EPS in 2013. Transaction terms were not disclosed.
“This acquisition enhances our presence in the U.S. ahead of other future OTC launches", said Anders Lönner, CEO of Meda AB.
MEDA AB (publ) is a leading international specialty pharma company. Meda's products are sold in 120 countries worldwide and the company is represented by its own organizations in 50 countries. The Meda share is listed under Large Cap on the Nasdaq OMX Nordic Stock Exchange in Stockholm. Find out more, visit www.meda.se.
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