The specialty pharmaceutical company, Meda has agreed to acquire Acton Pharmaceuticals, a specialty respiratory company. Acton’s lead product is Aerospan. Aerospan is an inhaler for the treatment of asthma that contains the active substance flunisolide.
The launch of Aerospan is expected to begin in 2014 for $135 million plus $10 million in a contingent, near-term development milestone. Acton will also receive certain sales-based milestones, which may bring the total potential acquisition value of up to $200 million.