Meda Acquires Valeant Business in Europe

Meda has signed an agreement to acquire Valeant’s pharmaceutical business in western and eastern Europe. The acquisition will give Meda an entry into the Russian market. In Eastern Europe, it means a potential for significant market synergies with products in Meda’s existing pipeline, according to the company. In western Europe, Meda’s position will be strengthened, especially in the UK. The majority of the acquired products are also within Meda’s key therapy areas; neurology and dermatology, in line with the company’s focused approach.

The total sales of the acquired business is $181 million, of which Eastern Europe account for $33 million. The major markets are Germany, UK, Italy, Spain and Russia. Total headcount is 380 employees, of which 230 employees in marketing and sales primarily visit specialists within dermatology and neurology.

“I’m really glad that we have reached this deal with Valeant. This acquisition has a perfect fit with our operations in Europe. It also makes a very important contribution to our strategy to become stronger in eastern Europe. We now get a foothold in Russia and we will use that platform to introduce many of our pipeline products. We also look forward to a long term collaboration in other areas with Valeant,” said Anders Lonner, Meda’s chief executive officer.