Meda acquires Acton Pharmaceuticals
Friday, August 30, 2013
Meda, an international specialty pharmaceutical company, has acquired Acton Pharmaceuticals for $135 million, plus a milestone payment of $10 million and royalties. The acquisition is expected to close during the fourth quarter and is subject to customary closing conditions and U.S. regulatory approval. Existing credit facilities will fund the acquisition.
The acquisition includes the proprietary product Aerospan. Aerospan is an FDA-approved inhaler for the treatment of asthma.
“The acquisition of Acton is an opportunity to gain access to a newly registered product in the U.S. market. Aerospan is within Meda’s primary focus area—respiratory—and is based on a new technology,” says Anders Lönner, chief executive officer of Meda. “Aerospan will be launched in the U.S. market in the beginning of next year.”