Meda signs agreement to acquire MidNite OTC sleep-aid product

Meda (STO:MEDAA) has signed an agreement to acquire MidNite, an OTC sleep-aid product. MidNite is well established in the U.S. and holds a market leading position within a growing category. Annualized revenues for MidNite are approximately 100 MSEK. After the MidNite acquisition, Meda's OTC business in the US will have pro forma revenues of close to 400 MSEK. The acquisition is expected to be accretive to EPS in 2013. Transaction terms were not disclosed.

"This acquisition enhances our presence in the U.S. ahead of other future OTC launches", said Anders Lönner, CEO of Meda AB.



Posted in: Business / Finance | Pharmaceutical News




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