Swedish allergy drug company Meda has denied it has been in discussions with Sun Pharma over a possible $5bn (€3.8bn) takeover.
In an official statement released today, Meda has announced “there are currently no such discussions” with Indian generic firm Sun Pharma, adding that it is not the company’s policy “to comment on speculation” and “this announcement is an exception.”
It was suggested by Reuters last week that Sun Pharma was poised to make an offer of $5-6bn for the company in order to boost its generics business with access to potential allergy blockbuster Dymista which recently achieved approval from the US Food and Drug Administration.
Sun pharma spokesperson Mira Desai would not comment to In-Pharmatechnologist.com regarding the speculation.
However, she did talk to us about Sun Pharma’s overall strategy: “Specialty, branded generics and generic segments offer good growth opportunities across several of the world markets, to companies with the right skill sets and capabilities.
“We plan to participate in these segments and grow our business profitably.”
Any acquisition would be the third multi-billion dollar deal in recent weeks in the generic sector, with Actavis shelling out $5bn for Warner Chilcott and Valeant’s $8.7bn purchase of Bausch & Lomb.