Reports: Sun to buy Meda for up to $6 billion
NEW YORK — India-based Sun Pharmaceutical Industries may buy Sweden-based Meda for $5 billion to $6 billion, according to published reports.
Reuters reported that the two companies were in talks for Sun to buy Meda in order to boost its generics business in developed markets.
The news comes months after Sun and Taro terminated a merger agreement, a deal that Sun had been trying to secure since 2007. Several high-profile mergers among drug companies have occurred in the last few weeks, however, including Actavis' announcement that it would buy Ireland-based Warner Chilcott for $8.5 billion and Valeant Pharmaceuticals International's plans to buy Bausch & Lomb for $8.7 billion.