Business NEWS

MEDA AB’s Anders Lönner increases shareholding and entered into an agreement with Uluru Inc!

By Amarendra Bhushan for CEOWORLD Magazine Updated:November 17, 2008

Meda’s CEO, Anders Lönner, has bought 666 322 shares in connection with the new share issue. His total shareholding now amounts to 4 664 254 shares, which is equivalent to a market value of about 200 MSEK based on today’s share price.

Meda has entered into an agreement with Uluru Inc, a US specialty pharma company, for Amlexanox 5% paste and OraDisc A™. The agreement gives Meda exclusive rights to the products in most European countries, including Eastern Europe.

Both products are used for the treatment of canker sores and include the active ingredient amlexanox. OraDisc A™ is a novel patented mucoadhesive, water-erodible disc incorporating 2mg of amlexanox for the treatment and prevention of aphthous ulcers. The disc is applied to the sore and adheres to the mouth mucosa and the active ingredient is released locally.

Meda will pay an up-front of about EUR 0,5 million for these rights. Total milestone payments are below EUR 4,8 million.

“OraDisc is a unique product that fits our product portfolio in Europe. A specialist sales force is already established and we hope to be able to launch the product already during 2010”, said Anders Lönner, CEO Meda.

MEDA AB (publ) is a leading international specialty pharma company. The company specialises in marketing and pharmaceutical development in late clinical stage. Acquisitions and long-term partnerships are fundamental factors that drive the company’s strategy. Meda is represented by its own organisations in about 40 countries. Meda’s products are sold in 120 countries worldwide. The Meda share is listed under Large Cap on the OMX Nordic Stock Exchange.

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