Swedish drug maker Meda , a recent takeover target of U.S. rival Mylan Inc , said it was well placed to make large acquisitions of its own after posting first-quarter profits in line with expectations and maintaining its year forecast. Meda's earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 1,010 million Swedish crowns ($155 million) in the first quarter from 923 million in the same period last year. The result was in line with the average forecast of 1,018 million crowns given in a Reuters poll of analysts.Meda's shares were down 1.7 percent at 117.0 crowns while the broader Stockholm market index was down 0.6 percent.Chief Executive Officer Jorg-Thomas Dierks made the following comments during a conference call on Wednesday:
Mylan Inc. (Mylan) is a fully integrated global pharmaceutical company that develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals. Shares of MYL fell by 2.83% or $-1.41/share to $48.48. In the past year, the shares have traded as low as $27.77 and as high as $57.52. On average, 6303670 shares of MYL exchange hands on a given day and today's volume is recorded at 4053763.
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