Meda (STO:MEDAA) has reached an agreement with Valeant to terminate the companies' joint ventures in Canada, Mexico and Australia in the second quarter of 2014. In all three countries own Meda affiliates have been established.
The product rights to Flupirtine, Onsolis and Sublinox are returned to Meda while Valeant will continue to run the business in Canada, including the products Palafer, Contac, and Manerix. Sublinox will be licensed to Valeant in Canada.
In connection with the agreement, Meda will receive additional marketing rights to the licensed products Acnatac and Zyclara. Meda will thus be able to sell these products in countries such as Australia and South Africa.
As a part of the total agreement Meda will cease paying royalties on sales of Acnatac, Aldara and Zyclara to Valeant.
"The agreement is in line with our strategy to focus - beside respiratory- on dermatology, as well as to strengthen our position in emerging markets", said Jörg-Thomas Dierks, CEO of Meda AB.
Meda AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on April 7, 2014, at 09:00 CET.
MEDA AB (publ) is a leading international specialty pharma company. Meda's products are sold in more than 120 countries worldwide and the company is represented by its own organizations in over 55 countries. The Meda share is listed under Large Cap on the Nasdaq OMX Nordic Stock Exchange in Stockholm. Find out more, visit www.meda.se.