Meda acquires Recip

Meda acquires Recip

Meda has signed an agreement to acquire Recip AB - a Nordic pharmaceutical
company with strong growth. According to the agreement Meda takes over the
existing Recip AB sales and organisation. Meda also obtains product rights,
trademarks and right to the Recip name. Recipharm, a production company, will
continue as a contract manufacturer for Meda and isn't part of the deal.

The acquisition is expected to contribute sales of about SEK 850 million into
Meda's operation during 2008 and strengthens Meda in several significant
respects:

•	New product opportunities from Recip's portfolio can be commercialised outside
the Nordic countries.
•	Well-established pharmaceuticals, with stable profitability, fortify Meda's
home base.
•	In terms of volume, Meda becomes one of the three largest pharma companies on
the Swedish market.
•	Considerable synergies can be achieved.

Meda is paying SEK 2,650 million in cash and 5.7 million newly issued Meda AB
shares for all shares in Recip AB (debt-free basis). This is comparable to an
acquisition multiple of about 10 times forecasted EBITDA for 2008. Existing
credit facilities finance the cash part. On 31 August 2007, Recip's equity
totaled about SEK 1.5 billion. The acquisition requires competition authority
approval. 

Pro forma sales for the operation that Meda is acquiring reached SEK 514 million
during the January - September 2007 period. The EBITDA margin was 37%. Of total
sales, 70% occurred in Sweden, 20% in the rest of the Nordic countries, and 10%
in other markets. Meda's well-developed marketing organisations in Europe and
the US, form a good base for further growth of Recip's products on new markets.
During 2008 it is expected that Recip will generate more than five new
pharmaceutical registrations. 

The product portfolio consists of well-established drugs such as Kåvepenin®
(treatment of infectious diseases), Heracillin® (treatment of infectious
diseases), Kalcipos® (treatment of osteoporosis), and TrioBe® (profylaxis
against vitamin B deficiency). The deal also includes Aminess® N, a specialist
medication for kidney failure, which will be launched in the US.

Recip has its own operation in all Nordic countries with about 50 employees in
total. The operation mainly consists of marketing and sales."We're pleased to have Meda as an industrial acquirer of Recip," says Lars
Backsell, CEO, Recipharm. "Meda has a strong marketing organisation in Europe
and the US, which means that Recip's products can be marketed on a broader
front. It is positive that Recip's professional staff can be a part of building
a strong Swedish pharma company. We're looking forward to become Meda
shareholders and to a continued partnership.""Meda and Recip have the same magnitude of sales on the Nordic market," says
Anders Lönner, CEO, Meda. "The acquisition strengthens our position on our home
market both when it comes to organization and products. The existing product
range and forthcoming product development mean attractive opportunities. The
ambition is to achieve sales of more than SEK 1 billion of Recip-products
already in 2009. We welcome Recip to the Meda Group."


For more information, please contact:

Anders Larnholt, Investor Relations, tel. +46 8 630 19 72

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 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.