India-based drugmaker Sun Pharmaceutical Industries is said to be in advanced negotiations to acquire Sweden-based Meda in a deal valued at $5-$6bn.
Sources close to the deal were quoted by Reuters as saying that the acquisition will strengthen Sun's generics business in developed markets and is currently discussing with banks to provide necessary funding for the proposed deal.
Meda, which manufactures specialty products, over-the-counter drugs and branded generics, reported sales of nearly SEK13bn ($2bn) during 2012.
Acquisition of Meda will provide Sun with access to an allergy inhaler medicine known as Dymista, which is being produced and supplied by its Indian competitor Cipla.
Other global drug makers like Valeant Pharmaceuticals International was reported to have shown interest to acquire Meda in 2011.
Sweden's Olsson family currently owns more than 22% of Meda, as reported by the news agency.
