STOCKHOLM, Sweden, June 19, 2002 (PRIMEZONE) -- Meda has signed a long-term license agreement with the pharmaceutical company Tedec-Meiji concerning the exclusive rights to the product Adant (hyaluronic acid) in the Nordic countries. As a part of the agreement, Meda will finalise the regulatory process. Tedec-Meiji is part of the Japanese group Meiji Seika Kaisha Ltd.
Adant is intended for local treatment of osteoarthritis. The unique feature of Adant is that the active ingredient is obtained through biotechnology. The product has already been used on 70.000 patients in Europe and has shown good efficacy and a favourable tolerability. Meda anticipates a growing need for treating osteoarthritis with hyaluronic acid.
"Adant fits well into Meda's strategy to offer medically well motivated and cost efficient products within prioritised therapeutic areas. Adant strengthens Medas position within the area of pain and inflammation," commented Anders Lonner, CEO of Meda.
"We are glad to have Meda as our partner for Adant," commented Mr Shinya Katafuchi, International Director of Tedec-Meiji Pharma. "Meda has built a good position in the therapy area and has a strong marketing and sales organisation. We are looking forward to a very positive development for Adant in the Nordic area."
For further information, please contact:
Mr. Anders Lonner, CEO tel. +46 8 630 19 00 Dr. Bernt Everts, Medical Director tel. +46 8 630 19 00
Meda AB (publ) is the Swedish specialty Pharmaceuticals Company. Meda is listed on the OM Stockholm Stock Exchange. Meda markets prescription and over-the-counter drugs and medical equipment.
Meiji Seika Kaisha is a Japanese corporation with subsidiaries all over the world. The turnover is 3 billion USD.
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