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, which last month spurned two takeover approaches from the U.S. generic drugsmaker, said on Wednesday that it was well placed to remain independent."Meda has both financial and organisational capacity for growth through major acquisitions as well as a good track-record," Chief Executive Jorg-Thomas Dierks said, pointing also to "excellent opportunities to grow organically".Meda has been seen as takeover candidate for years in an industry which is trying to cut costs and add specialized expertise as it faces stiffer regulations on healthcare provision costs in developed countries.
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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