Meda's acquisition of Recip is concluded

12/13/2007 7:00 AM EST

Meda's acquisition of Recip AB was announced on 25 October 2007. The acquisition is now concluded. Meda receives product rights and brands, rights to the name Recip, and it takes over existing sales operations. The organisation has around 50 persons; most of them are in marketing and sales. The product portfolio consists of well-established pharmaceuticals such as Kåvepenin®, Heracillin®, Kalcipos®, and TrioBe®. The acquisition strengthens Meda's home base in Sweden, and new product opportunities from Recip's product portfolio can be commercialised outside the Nordics. Considerable synergy effects can also be achieved.

The acquisition price for all shares in Recip AB was SEK 2,650 million on a debt-free basis plus SEK 5.7 million newly issued shares in Meda AB. The net debt that Meda took over totaled SEK 832 million. Meda's cash payment was thus SEK 1,818 million, totally financed within existing credit facilities. The price for the newly issued shares was set at SEK 86.25 per share.