GÖTEBORG, Sweden--(BUSINESS WIRE)--Regulatory News:
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.
This press release is not an offer to sell or a solicitation to buy shares in Meda. This press release also contains certain forward-looking statements with respect to certain future events and Meda’s potential financial performance. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts, and may sometimes include words such as “may”, “will”, “seek”, “anticipate”, “expect”, “estimate”, “intend”, “plan”, “forecast”, “believe” or other words of similar meaning. These forward looking statements reflect the current expectations on future events of the management at the time such statements are made, but are made subject to a number of risks and uncertainties. In the event such risks or uncertainties materialize, Meda’s results could be materially affected. The risks and uncertainties include, but are not limited to, risks associated with the inherent uncertainty of pharmaceutical research and product development, manufacturing and commercialization, the impact of competitive products, patents, legal challenges, government regulation and approval, Meda’s ability to secure new products for commercialization and/or development and other risks and uncertainties detailed from time to time in Meda AB’s interim or annual reports, prospectuses or press releases. Listeners and readers are cautioned that no forward-looking statement is a guarantee of future performance and that actual result could differ materially from those contained in the forward-looking statements. Meda does not intend, nor undertakes, to update any such forward looking statements.
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