BioCentury
ARTICLE | Company News

Meda, MedPointe deal

July 23, 2007 7:00 AM UTC

MEDA will acquire MedPointe for $520 million in cash and 17.5 million shares of MEDA stock worth SEK1.8 billion ($273 million) based on MEDA's close of SEK103.5 on July 19, the last trading day before the deal was announced. MEDA said MedPointe's 710 employees, including a U.S. sales force of about 500, will allow it to establish a full marketing presence in both the U.S. and Europe. MEDA markets Allergodil azelastine in nasal spray and eye drop forms to treat rhinitis and conjunctivitis, respectively. MEDA also markets 10 pain and inflammation drugs, as well as drugs for cardiovascular, dermatology, gastrointestinal and other indications. ...