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Acton Pharmaceuticals to be acquired by Meda for up to $200m

Acton Pharmaceuticals Inc., a Marlborough-based pharmaceutical company that recently got regulatory approval for an asthma treatment, said Friday that it has agreed to be acquired by Meda, an international specialty pharma company headquartered in Sweden.

In an all cash transaction, Meda will acquire 100 percent of Acton’s shares 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 up to $200 million, Acton said.

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The focus of Acton Pharmaceuticals is respiratory medicine. The company recently received approval from Food and Drug Administration for Aerospan, an inhaled corticosteroid for treating asthma.

In a statement, Acton chief executive John Simon said: “Meda’s experience marketing respiratory products combined with their significant track record of success makes them extremely well-suited to launch Aerospan to respiratory and pediatric physicians in the US.”

Chris Reidy can be reached at reidy@globe.com.
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