Meda will acquire Alaven Pharmaceutical
Meda has signed an agreement to acquire the US specialty pharmaceutical company Alaven that develop and market prescription and non-prescription products that treat women`s health, gastroenterological and anemia conditions. Alaven company was formed in 2003. Meda will pay 350 MUSD on a cash and debt free basis. Net debt is estimated to 63 MUSD. The acquisition is expected to be completed by early
October. The agreement will enhance Meda’s marketing capabilities in the US. It will also expand the company’s therapeutic focus to include both gastroenterology and women’s health, areas that Meda already operates in outside of the US.
Alaven’s OTC business (their platform accounts for approximately 25% of sales) will diversify Meda’s revenue base in the US, as well as serve as a platform for commercializing strategic pipeline opportunities. Alaven has approximately 180 employees, the majority dedicated to marketing and sales. All manufacturing is outsourced to third parties.
Alaven’s largest product Proctofoam for rectal inflammation has an annual turnover of about 25 MUSD. There are several other well known brands included in Alaven’s portfolio.
"Alavens products and business model are very similar to Medas and we look forward to integrating their proven capabilities. The acquisition of Alaven enables our operations in the US to become stronger and more profitable by taking advantage of cost and marketing synergies. It is not easy to find US specialty pharma companies of this caliber, therefore we are very pleased," said Meda CEO Anders Lönner.