STOCKHOLM Meda on Monday announced an agreement to acquire the specialty pharmaceutical company Alaven in a move that will “significantly enhance Meda’s marketing capabilities in the United States and expand the therapeutic focus to include both gastroenterology and women’s health — areas that Meda already operates in outside of the United States,” the company stated.
Meda also identified Alaven’s over-the-counter platform, which accounts for approximately 25% of Alaven’s sales, as an attractive element to the deal.
“Alaven’s products and business model are very similar to Meda’s, and we look forward to integrating their proven capabilities,” stated Meda CEO Anders Lonner. “The acquisition of Alaven enables our operations in the United States to become stronger and more profitable by taking advantage of cost and marketing synergies.”
Meda will pay $350 million on a cash and debt-free basis. Net debt is estimated at $63 million. Closing of the transaction is subject to standard closing requirements and antitrust clearance from the Federal Trade Commission. The acquisition of Alaven is expected to be completed by early October.