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Meda Agrees To Buy Rottapharm for $3.1 Billion


Meda, a Swedish drug maker, has agreed to buy Rottapharm for $3.1 billion. The deal will boost profitability and presence in emerging markets. Meda turned down takeover offers from U.S. firm, Mylan. The companies chief executive said it prefers “to eat and not be eaten”, since the industry has seen merger and acquisitions boost in the market. Meda Chief Executive Jorg Thomas Dierks said, “This mean increased scale, reach and profitability, and by this I think Meda will become a company that, is bigger, is stronger, but especially is also better.”