Meda is to acquire the US development company Acton
Pharmaceuticals, Inc. (“Acton”) for upto $200m. Meda will pay $135m upfront, while the rest would be contingent on milestones (sales and regulatory). The primary product in Acton portfolio is Aerospan, which is an inhaler for the treatment of asthma that
contains the active substance Flunisolide. The product is approved by
the FDA and has shown in clinical studies to have a high deposition of
active drug in the airways as a result of a built-in inhalation chamber
(called a “spacer”). Aerospan is intended to be launched in the US in 2014, while launch in other major markets will be done subsequently.
Acquisition Rationale
Meda which is already promoting Dymista, - a nasal spray for the treatment allergy rhinitis is seeking cost synergies in the transaction. Meda will be leveraging its Dymista sales force for the promotion of Aerospan.
In
a randomized double-blind placebo-controlled study, published in the
Annals of Allergy, Asthma & Immunology, Aerospan show no significant
negative effect on linear growth in children with asthma. This is an
important feature of the Aerospan product. FDA has recently approved the
addition of data from this study in the prescribing information.
The
launch of Aerospan is planned to the beginning of 2014. The total US
market for inhaled asthma products containing a mono-corticosteroid is
estimated at 2 billion USD. The use of spacers is increasing very
rapidly. In some markets, more than one third of patients who use
inhaled corticosteroids also use a spacer.
Aerospan is the only product
registered in the US market with a built-in spacer. Meda’ s target is to
reach a minimum of 2 billion SEK in sales within 5 years.
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