BioCentury
ARTICLE | Company News

Mylan acquiring Meda

February 11, 2016 1:14 AM UTC

Generics company Mylan N.V. (NASDAQ:MYL) will acquire Meda AB (SSE:MEDAA) for about SEK83.6 billion ($9.9 billion) in cash and stock, or SEK60.3 billion ($7.1 billion) net of debt. Meda makes specialty pharma products, OTC drugs and branded generics.

The SEK165 per share takeout price is a 92% premium over Meda's Wednesday close. The deal was announced after market hours. Meda gained SEK3 to SEK86.05 on Wednesday. Mylan shed $0.20 to $50.54 during the day, and fell $4.55 to $45.99 in early after-hours trading. ...