SOLNA, Sweden — Meda announced Friday that it 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. Transaction terms were not disclosed.
“This acquisition enhances our presence in the U.S. ahead of other future OTC launches," stated Anders Lönner, CEO of Meda.
Annualized revenues for MidNite are approximately $15 million, the company reported.