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Meda AB (MEDA-A.ST): We Are Not in Talks With Sun Pharmaceutical Industries Ltd


6/5/2013 7:25:09 AM

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Swedish drug firm Meda AB, which has been reported to be in discussions with Sun Pharmaceutical IndustriesBSE 1.91 % for a $ 5 billion stake sale, today denied that it was in talks with any potential buyer. "Due to the recent speculation in the press and news media concerning Meda merging with another pharmaceutical company, we have decided to inform the market that there are currently no such discussions," Meda said in a statement. Last week reports had said Mumbai-based Sun Pharma was in talks to buy the Swedish firm, which is strong in speciality products, over the counter drugs and branded generics, for about $ 5 billion.

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