Meda to acquire Alaven
Meda has signed an agreement to acquire the US specialty pharmaceutical company Alaven. Meda will pay 350 MUSD on a cash and debt free basis. Net debt is estimated to 63 MUSD. The acquisition is expected to be completed by early October. The agreement will enhance Meda’s marketing capabilities in the US. It will also expand the company’s therapeutic focus to include both gastroenterology and women’s health, areas that Meda already operates in outside of the US.
Alaven’s OTC business (their platform accounts for approximately 25% of sales) will diversify Meda’s revenue base in the US, as well as serve as a platform for commercializing strategic pipeline opportunities. Alaven has approximately 180 employees, the majority dedicated to marketing and sales. All manufacturing is outsourced to third parties.
Alaven’s largest product Proctofoam for rectal inflammation has an annual turnover of about 25 MUSD. There are several other well known brands included in Alaven’s portfolio.
"Alaven's products and business model are very similar to Meda's and we look forward to integrating their proven capabilities. The acquisition of Alaven enables our operations in the US to become stronger and more profitable by taking advantage of cost and marketing synergies. It is not easy to find US specialty pharma companies of this caliber, therefore we are very pleased," said Meda CEO Anders Lönner.
Fresenius Medical Care acquires Gambro’s peritoneal dialysis business
Fresenius Medical Care has signed an agreement to acquire Gambro’s worldwide peritoneal dialysis business. Gambro will prioritize its investments in the hemodialysis field. The acquisition is an opportunity for Fresenius Medical Care to expand its activities in the homecare market, in particular in Europe and Asia-Pacific.
Once the acquisition is approved and closed the new operations will add around $60 million in annual revenue and are expected to be accretive to earnings in the first year after closing of the transaction.
"Promoting our growth in home therapies, of which PD is a key element, has been a defined path in our overall growth strategy, and we are convinced that Gambro's PD operations will be an excellent fit with Fresenius Medical Care. Bringing together the experienced PD teams of both companies and our mutual focus on biocompatible PD solutions for high-quality patient care will give us a unique opportunity to complete our PD-product offering. The acquisition will also significantly strengthen our sales and distribution network and expand our global presence in the homecare market," said Ben Lipps, chief executive officer of Fresenius Medical Care.
Becton Dickinson shuts down plant in Sweden
The US medical supply manufacturer Becton Dickinson has given notice to all 393 employees at its plant in Gåsebäck, Helsingborg in Sweden. The lay offs are to begin in February 2011 and production will cease before the end of 2011.The shutting down of the plant is due to outsourcing of production to low salary countries, the company’s existing plants in Mexico, India and Singapore.
Becton Dickinson develops products for research and clinical laboratory activities and has 29 000 employees in 50 countries. The Nordic headquarter is located in Stockholm Sweden.
XANO sells Inmedic
XANO Industri has signed an agreement for the sale of all shares in Inmedic AB with subsidiaries to Hammarplast Medical AB. Inmedic supplies advanced manufacturing services to the medical technology industry and has been part of XANO’s business unit Plastic Components. Production is carried out in Sweden and Estonia and takes place entirely in classified clean room environments.
The purchase sum amounts to SEK 21 million and brings a capital gain of approx. SEK 14 million. A conditional additional purchase sum of SEK 1 million may be disbursed in January, 2011. The sale of Inmedic is part of XANO’s work at isolating the Group’s business and building strong units of companies where synergies are utilised in the best possible way.
Hammarplast Medical is one of two business areas within the Hammarplast Group, which has a total turnover of approx. SEK 370 million. Hammarplast Medical operates within three areas: products for medicine distribution, surgical devices and customized products for the medical technology industry. The manufacturing services comprise injection moulding, injection blow moulding, blow moulding and automated assembly in clean room environments.
NsGene and Biogen Idec sign new agreement
NsGene and Biogen Idec have signed a new commercialization and license agreement on Neublastin, a novel therapeutic protein in clinical development for neuropathic pain. The expanded agreement grants Biogen Idec exclusive global rights to commercialize Neublastin for all indications, and in all formulations.
This agreement enables Biogen Idec to develop all Neublastin product opportunities and replaces a license and collaboration agreement from year 2000 under which Neublastin has been successfully brought into Phase I clinical development for the treatment of neuropathic pain. NsGene will receive development milestone payments in accordance with the agreement from year 2000. The expanded agreement secures NsGene an upfront payment of USD 6 million, and an annual maintenance fee of USD 1.5 million until acceptance of the first regulatory filing for approval with respect to a Neublastin product. The maintenance fee will be paid in those years in which NsGene does not receive a development milestone. In addition, NsGene will receive increased royalties on future sales of Neublastin products.
Neublastin is a novel and potentially disease-modifying therapeutic protein for the treatment of neuropathic pain that afflicts millions of people worldwide. Neuropathic pain is a major debilitating consequence of nerve damage and existing treatments are largely ineffective. Neuropathic pain is commonly caused by diabetes and herpes zoster infection. Other causes are amputation, failed back syndromes, cancer-induced nerve compression and chemotherapy.
