Meda 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 $15 million. After the MidNite acquisition, Meda’s OTC business in the US will have pro forma revenues of close to $60 million. 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", says Anders Lönner, CEO of Meda AB.
MEDA AB is an international specialty pharma company based in Solna, Sweden.
Release Date: December 7, 2012