STOCKHOLM, Sweden, July 2, 2004 (PRIMEZONE) -- Meda has signed an agreement with the Belgian pharmaceuticals company Omega Pharma to acquire the European rights to the tablet formulations of the products Cyklokapron and Cyklo-F. Omega Pharma recently acquired these products as part of a larger product transaction with the American pharmaceuticals company Pfizer.
Cyklokapron and Cyklo-F are well established products and indicated for the use of menorrhagia. The annual turnover in Europe amounts to approximately 6.5 million Euros, and the profitability is in line with Meda's prioritised business area Pharma. The purchase price is 14 million Euros and the deal is financed through bank credits and own cash-flow. The sales is mainly (80%) generated in Meda's priority markets namely the UK, the Nordic countries and Germany. The acquisition is well in line with Medas continuos effort to strengthen the product portfolio and will contribute positively to Medas profit.
"We are glad to co-operate with Meda in this deal since the actual products are mostly prescription drugs and Omega is focusing on the OTC market" says Marc Coucke, CEO Omega Pharma.
"The Cyklokapron range of products fits extremely well with both our therapy orientation and our priority markets. We look forward to co-operate with Omega in the future," says Anders Lonner, CEO Meda.
For further information, please contact: Meda AB Anders Lonner, CEO tel. +46 8 630 19 00
Meda AB (publ.) markets prescription and over-the-counter drugs and medical equipment in about 25 countries. Meda has its own subsidiaries in the Nordic countries, the United Kingdom, Germany and the Baltic States. Meda is listed on the Stockholmsborsen stock exchange.
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