Meda (STO:MEDAA) and Valeant Pharmaceuticals International have agreed to form joint ventures in Australia, Canada and Mexico to develop, market and commercialize certain current and future products. The joint ventures will be majority owned by Meda and Valeant will own a minority interest. The joint ventures will pursue the regulatory filings and manage the commercialization of the products and Valeant will participate in a profit share. The joint ventures will initially include products such as Sublinox (treatment of insomnia) and flupertine (pain treatment), with the option to include additional products in the future.
“We are very pleased to be able to join Valeant in the creation of these three joint ventures,” said Ander Lonner, chief executive officer of Meda. “Long-term partnerships are a fundamental cornerstone of Meda’s strategy and I believe that this collaboration will yield long-term benefits for both companies.”
“I am delighted to join Meda in a strategic partnership that will provide new opportunities for both companies,” stated J. Michael Pearson, chairman and chief executive officer of Valeant. “Through these joint ventures, Valeant will be able to increase the leverage of our business operations in Canada, Mexico and Australia, while opening up new market opportunities for Meda.“
MEDA AB (publ) is an international specialty pharma company that concentrates on marketing and market-adapted product development. Acquisitions and long-term partnerships are fundamental factors that drive the company’s strategy. Meda is represented with own organisations in 26 countries and with more than 1 500 employees within marketing and sales. Meda’s products are sold in approximately 120 countries world-wide. The Meda share is listed under Large Cap on the OMX Nordic Stock Exchange. Find out more, visit www.meda.se.
Valeant Pharmaceuticals International (NYSE:VRX - News) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of products primarily in the areas of neurology and dermatology. More information about Valeant can be found at www.valeant.com.
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Contact:
Meda Anders Larnholt, Vice President Investor Relations Tel: +46 8 630 19 62, +46 709 458 878 anders.larnholt@meda.se
Source: Meda
