Roche product sale to Meda completed
2 October 2008 00:00 in Pharmaceutical Company Product News
Meda has announced the completion of its acquisition of a pharmaceutical product portfolio from Roche.
It said the competition authorities have now approved the transaction, resulting in a strengthening of its position in a number of key therapy areas, with the purchase of drugs with sales levels of around 500 million Swedish krona (40.7 million pounds).
It bought four products from Roche for a total sum of 120 million euros (94.7 million pounds).
A total of 110 million euros was paid up front at the closing of the transaction, while the remaining ten million euros will be paid when certain agreements are completed and assigned.
These products are; anticoagulant Marcoumar (phenprocoumon), loop diuretic Torem (torasemide), rheumatoid and osteoarthritis drug Tilcotil (tenoxicam) and antidepressant Auroix (moclobemide).
"No employees will transfer from Roche to Meda in conjunction with the acquisition," the company said.
It added it has acquired the worldwide rights to the drugs, with the key markets being Francem Germany, Spain, Switzerland and the USA.
In August 2008, Meda published its financial report for the first half of 2008, reporting sales of 5,195 million Swedish krona, a 38 per cent rise over the same period in 2007.
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