Having rejected two takeover bids from Mylan earlier in 2014, Sweden’s Meda has agreed to acquire the Italian speciality pharmaceutical company Rottapharm Madaus for a total consideration of SEK21.2 B (US$3.1 B), including net debt of SEK2.8 B (US$407 M). The deal comes only weeks after family owned Rottapharm withdrew a planned IPO citing unfavourable market conditions. The acquisition, the largest in Meda’s history, will bolster the company’s consumer healthcare business and increase its emerging market revenues by 50%.