Supplier News Breaks Archives
Meda inks deal to acquire Alaven
August 30th, 2010
STOCKHOLM, Sweden – Meda has signed an agreement to acquire the U.S. specialty pharmaceutical company Alaven.
Sweden-based Meda said Monday that the $350 million acquisition deal will significantly enhance its marketing capabilities in the United States and expand its therapeutic focus to include gastroenterology and women’s health, areas in which Meda already operates outside America.
Meda also noted that Marietta, Ga.-based Alaven has a strategic over-the-counter platform that accounts for about 25% of sales. The OTC business will further diversify Meda's U.S. revenue base and serve as a platform for commercializing strategic pipeline opportunities, according to the company.
"Alaven's products and business model are very similar to Meda's, and we look forward to integrating their proven capabilities," Meda chief executive officer Anders Lönner said in a statement. "The acquisition of Alaven enables our operations in the U.S. to become stronger and more profitable by taking advantage of cost and marketing synergies. It is not easy to find U.S. specialty pharma companies of this caliber; therefore, we are very pleased."
Meda said Alaven's product portfolio consists of several well-known brands, including Proctofoam (rectal inflammation), Cortifoam (ulcerative proctitis), Epifoam (primarily indicated for pain from episiotomy), Levsin (antispasmodic agent, adjunctive therapy in treatment of peptic ulcers), Rowasa (distal ulcerative colitis), TriLyte (colonoscopy preparation) and the Prefera brand of prenatal vitamins.
In addition, Meda reported that Alaven has several development opportunities expected to launch over the next three years.