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GEN News Highlights : Apr 27, 2007

Wyeth Sells 10 Drugs for Almost $76.5M

Meda predicts these will add upwards of $23 million in sales for the remainder of 2007.

Meda purchased 10 European on-market drugs from Wyeth for SEK 525 million, or approximately $76.49 million.

Meda expects the products to add about SEK 160-170 million, or between $23 million and $25.41 million, in sales into its operation for the rest of 2007. It reports that the acquisition enhances its position in two of its most important markets, Italy and France. These countries account for about 60% of the acquired products' sales, according to the company.

Meda states that the biggest product acquired through this deal is Seresta®, an anti-anxiety agent used for sleep disorders and various substance-withdrawal syndromes.