Sweden's Meda has purchased U.S.-based MedPointe in an $800 million cash and stock deal. Meda said that MedPointe's products, which focus on the areas of allergy, respiratory and pain, are a perfect fit for Meda's portfolio. MedPointe's most successful products include the nasal spray Astelin and the allergic conjunctivitis treatment Optivar. Both products contain azelastine, and MedPointe has been developing additional programs for azelastine. Meda will pay MedPointe $520 million in cash and purchase $286.3 million in stock.
"There is an extraordinarily good fit between the two companies...Both companies have interesting product opportunities, which give a strong potential in both the middle and long-term. We can now increase our efforts to support these programs with both U.S. and European coverage," noted Paul Edick, CEO of MedPointe.
- see the release on the deal for more