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news.Specialty pharmaceutical company Meda has purchased non-sedating over the counter (OTC) sleep aid, MidNite, in the US.
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The patented MidNite works naturally to allow the usual sleep cycle to take over and contains a complex of natural herbs in addition to identical substances produced by the body during the natural sleep cycle.
Ingredients present in the product include 1.5mg of European melatonin and a 22mcg blend of lavender, lemon balm and chamomile.
Meda AB CEO Anders Lonner said, "This acquisition enhances our presence in the U.S. ahead of other future OTC launches."
Terms of the transaction that is anticipated to be accretive to EPS in 2013 were not revealed.