BioCentury
ARTICLE | Company News

Meda acquires Elidel from Novartis

April 8, 2011 12:30 AM UTC

Meda AB (SSE:MEDAA) will acquire dermatology drug Elidel pimecrolimus from Novartis AG (NYSE:NVS; SIX:NOVN) for $420 million in cash. The non-steroidal ascomycin derivative 1% cream is marketed in more than 90 countries, including the U.K., U.S. and countries in Europe, to treat atopic dermatitis (eczema). The deal is expected to close this quarter. Meda was up SEK1.75 to SEK65.10 on Thursday. ...