Meda files complaint against 3M and claims damages

Meda files complaint against 3M and claims damages

Meda has filed a complaint against 3M and claims damages for breach of
agreement in connection with Meda's acquisition of 3M's European
pharmaceutical division in 2007. Meda's claims are based upon 3M's
failure to disclose an essential agreement that it had entered into with
the French authorities regarding the sale of Tambocor in France. This
undisclosed agreement forced Meda, after the acquisition, to concede to
substantial price reductions, which were fully implemented during 2008
and 2009. The agreement does not stipulate any further price reductions
for Tambocor. As a direct result of 3M's improper conduct, Meda has not
been able to fully benefit from its efforts to grow the volume of this
product in France. The sales value of the product in France amounted to
approximately 40 - 50 MEUR per year during the period 2007 - 2010.

”On the whole, the acquisition of 3M's pharmaceutical division in Europe
has contributed positively to Meda's development. However, in this
particular case, we are forced to act in order to protect our rights as
a company”, said Anders Lönner, CEO of Meda.

For questions, please contact:

Anders Larnholt, Vice President Corporate Development & IR        ph:
+46 709-458 878