Swedish pharmaceutical company Meda has agreed to acquire Massachusetts-based Acton Pharmaceuticals for $135 million plus a $10 million milestone payment and royalty milestones. According to Acton, the deal could be worth up to $200 million.
Acton’s products include the Aerospan flunisolide metered dose inhaler for the treatment of asthma, which was approved by the FDA in September 2012. Acton also entered into an agreement with Sanofi in October 2011 to develop and market Nasacort HFA in the US.
Meda’s products include Dymista nasal spray, which was approved in the US in May 2012 and in Europe in January 2013. Earlier this year, Meda was rumored to be in talks to merge with Sun, which Meda denied.
Meda CEO Anders Lönner commented, “The acquisition of Acton is a unique opportunity to gain access to a newly registered product in the US market. Aerospan is within Meda’s primary focus area – Respiratory and is based on a new technology. Paired with Dymista, this gives us a clear profile in our highest priority area as well as important marketing synergies. Aerospan will be launched in the US market in the beginning of next year and other major markets will follow.”
Acton CEO John Simon said, “We are excited to enter into this agreement with Meda, a leading global pharmaceutical company. Meda’s experience marketing respiratory products combined with their significant track record of success makes them extremely well-suited to launch Aerospan to respiratory and pediatric physicians in the US.”
Read the Meda press release.
Read the Acton press release.
