Medeva Acquisition Of Inhalon On Right Track

The acquisition of Inhalon Pharmaceuticals by Medeva has put the firm back on the road to growth, according to Lehman Brothers analysts Stewart Adkins, Ian Smith and Jo Walton.

Inhalon has no current sales in the USA, note the analysts, but add that with two product approvals for inhaled anesthetics, enflurane and isoflurane, addressing a market of $150-180 million in the USA, sales of around $15 million are expected in 1995, rising to $50 million by 1998.

Some recruitment will be required before manufacturing can begin, but this is expected to happen in this quarter, say the analysts. The required sales and marketing structure is already in place with IMS, a Medeva subsidiary, allowing the company to contribute quickly to Medeva's earnings. However, the analysts forecast no change in earnings until after 1996.