Acquisition of product portfolio from Roche completed
• Competition authorities have approved the acquisition
• Meda’s position in key therapy areas strengthened
• Sales level of about 500 MSEK
• Purchase price 120 MEUR, equivalent to about 2,3 times sales
On 15 August 2008, Meda announced that it reached agreement regarding acquisition of four well established pharmaceuticals from the Swiss pharma company Roche - pending approval from competition authorities. The authorities have now approved the purchase, and Meda is taking over the products.
The acquired products have strong brand names and the total sales level is 500 MSEK. No employees will transfer from Roche to Meda in conjunction with the acquisition. Meda acquires world-wide rights to the products and the most important markets are Germany, Spain, Switzerland, USA and France. Meda strengthens its position in key therapy areas; Cardiology, CNS and Pain / Inflammation.
The purchase price is 120 MEUR, corresponding to approximately 1 160 MSEK and equivalent to about 2,3 times sales. An up-front of 110 MEUR has been paid at closing of the transaction and the remaining 10 MEUR will be paid upon completion and assignment of certain agreements.
The four acquired Roche products are:
Marcoumar (phenprocoumon) is a well-established anticoagulant. This product fits perfectly into Meda’s cardiovascular product portfolio. The largest market is Germany and the total sales level is about 200 MSEK.
Torem (torasemide) is a loop diuretic. It is also marketed using trademarks such as Demadex, Dilutol and Toradiur in more than 30 countries – also in the USA and in Japan. The product fits well in Meda’s antihypertensive product range. The sales level is about 180 MSEK.
Tilcotil (tenoxicam) is a NSAID drug for the treatment of painful inflammatory and degenerative disorders of the musculoskeletal system such as rheumatoid and osteoarthritis, and arthrosis. The product is also marketed using the trademarks Mobiflex, Tilatil, Tilcitin and Alganex. Tilcotil fits perfectly into Meda’s therapy area Pain / Inflammation. The sales level is approximately 70 MSEK.
Aurorix (moclobemide) is a MAO-A inhibitor and a well-known antidepressant for specialists to prescribe. The sales level is approximately 50 MSEK.
