GÖTEBORG, Sweden--(BUSINESS WIRE)--Regulatory News:
In February 2010, Meda (STO:MEDAA) in-licensed exclusive North American rights to Xerese – a patented product for treatment of cold sores (herpes labialis). Under that agreement, Meda pays the collaboration partner Medivir AB mid-teens and minimum royalties on net sales. Today, Meda has acquired all rights for Xerese in North America and the royalties have been reduced to zero. The purchase price was 45 MUSD. Under the terms of the new agreement, Meda will seek to develop new products for which Medivir will receive mid-single digit royalties on net sales and a milestone payment of 10 MUSD on approval by the U.S. Food and Drug Administration.
MEDA AB (publ) is a leading international specialty pharma company. Meda’s products are sold in 120 countries worldwide and the company is represented by its own organizations in 50 countries. The Meda share is listed under Large Cap on the Nasdaq OMX Nordic Stock Exchange in Stockholm. Find out more, visit www.meda.se.
Forward-looking Statements This press release is not an offer to sell or a solicitation to buy shares in Meda. This press release also contains certain forward-looking statements with respect to certain future events and Meda’s potential financial performance. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts, and may sometimes include words such as “may”, “will”, “seek”, “anticipate”, “expect”, “estimate”, “intend”, “plan”, “forecast”, “believe” or other words of similar meaning. These forward looking statements reflect the current expectations on future events of the management at the time such statements are made, but are made subject to a number of risks and uncertainties. In the event such risks or uncertainties materialize, Meda’s results could be materially affected. The risks and uncertainties include, but are not limited to, risks associated with the inherent uncertainty of pharmaceutical research and product development, manufacturing and commercialization, the impact of competitive products, patents, legal challenges, government regulation and approval, Meda’s ability to secure new products for commercialization and/or development and other risks and uncertainties detailed from time to time in Meda AB’s interim or annual reports, prospectuses or press releases. Listeners and readers are cautioned that no forward-looking statement is a guarantee of future performance and that actual result could differ materially from those contained in the forward-looking statements. Meda does not intend, nor undertakes, to update any such forward looking statements.
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