Interim Report, January–March 2013

First quarter

  · Group net sales reached SEK 3,199 million (3,375) corresponding to unchanged
organic growth[1] compared to previous year.
  · EBITDA amounted to SEK 923 million (1,153), corresponding to a 28.9% margin
(34.2).
  · Operating profit totaled SEK 384 million (620).
  · Profit after tax amounted to SEK 208 million (368).
  · Earnings per share reached SEK 0.70 (1.24).
  · Cash earnings per share amounted to SEK 1.77 (1.93).
CEO STATEMENT

The first quarter was characterized by our continued focus on long-term growth.
We took carefully planned and extensive initiatives in new products and made
investments in growth markets.

It is pleasing to note that Dymista was very well received in the US. In a short
period of time, we have achieved a 5% market share in the segment “branded
allergy nasal sprays”. However, the allergy season started late and did not take
off until after Q1. In the first quarter sales of Dymista reached SEK 63
million. Sales grew well in April and reached SEK 40 million in the US. In
Europe, we are now starting the launch of Dymista. In April, pre-launch began to
specialists in Germany, the UK, Ireland and the Nordic countries and more
markets will be added during the year. Sales in Europe in April totaled
approximately SEK 9 million.

We are also continuing to follow our plan to use the company’s global product
potential in the OTC area to the best of its advantage. The international launch
of CB12 continued during the quarter, with Russia as the first market to be
launched in the Emerging markets geographical region. The product is now
available in 15 countries, and shows strong sales growth in several markets. In
Q1, additional OTC products were launched in Germany and France with good market
figures.

In Emerging markets Russia leads the way with strong sales growth that
correlates with our increased marketing efforts, while sales in the Middle East
were short term affected negatively by irregular distributor purchasing
patterns. During the quarter the new markets China and Brazil showed good
development.

A continued price pressure mainly in southern Europe as well as generic
competition for our older products in the US negatively affect our organic
growth. With Dymista showing a good performance in the US and now also being
launched in Europe at the same time as we are experiencing a strong trend in our
other growth areas, I estimate that organic growth for the full-year 2013 will
amount to 3-5%.

Anders Lönner
Group President and CEO

1) Organic growth – Sales growth adjusted for currency effects, acquisitions,
disposed operations, and revenues from the cooperation agreement with Valeant.
Webcasted presentation of the report on May 7 at 10:30 AM
The presentation can be reached at www.meda.se/financial
-information (http://www.meda.se/sv/finansiell-information). A recorded version
will also be available until the next interim report is presented.

For further inquiries, please contact:
Anders Larnholt, VP Corporate Development and Investor Relations,
anders.larnholt@meda.se, +46 709‑458 878.
Paula Treutiger, Investor Relations, paula.treutiger@meda.se, +46 733-666 599.

The company’s auditors did not review this interim report.

FORWARD-LOOKING STATEMENT

This report is not an offer to sell or a solicitation to buy shares in Meda.
This report 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
results could differ materially from those contained in the forward-looking
statement. Meda does not intend or undertake to update any such forward-looking
statements.