STOCKHOLM, Sweden, June 27, 2005 (PRIMEZONE) -- Meda and Biophausia reached agreement regarding Meda's sale of its parallel trading operation. Biophausia is buying shares in two of Meda's subsidiaries for a total of SEK 41 million.
The agreement is conditional upon approval from Biophausia's extraordinary shareholders' meeting. If approval is granted, then takeover can start on 1 August 2005. In 2004, Meda's parallel trading operation reported sales of SEK 250 million and accounted for 3.3% of Meda's gross income. The deal is expected to yield a non-recurrent effect on Meda's operating income for all of 2005; this figure is comparable to between SEK 25 -- 30 million. It also frees up operating capital.
"Meda found that the time was right to sell the parallel trading operation in order to further concentrate on its Pharma business area and on company expansion in the rest of Europe," says Anders Lonner, CEO of Meda.
Meda on the Attract 40
When the OMX updates its Attract 40 segment, Meda will be quoted for trading on this list -- starting on 1 July 2005.
Meda AB (publ) -- the Swedish speciality pharmaceutical company. Meda markets prescription and non-prescription medications and med-tech equipment in 25 countries. The company has subsidiaries on important markets in Europe. Meda is listed on the Stockholm stock exchange (Stockholmsborsen).
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-0- Meda Anders Lonner, CEO tel. +46 8 630 19 00 Anders Larnholt, Investor Relations tel. +46 8 630 19 00