Meda (STO:MEDAA), a Swedish pharmaceutical company, acquired Acton Pharmaceuticals, a Marlborough, Mass.-based pharmaceutical company focused on treating respiratory conditions, for $135m.
In addition to the purchase price, the acquisition includes a milestone payment of 10m USD.
The transaction, which will be funded by existing credit facilities and is expected to close during the fourth quarter of this year, includes the proprietary product Aerospan, a FDA-approved inhaler for the treatment of asthma that contains the active substance Flunisolide.
The launch of the product is planned to the beginning of 2014.
Acton Pharmaceuticals is backed by Sequoia Capital (read here).
FinSMEs
30/08/2013