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STOCKHOLM, Aug 13 (Reuters) - Swedish drug maker Meda posted a smaller rise than expected in second-quarter core profit on Wednesday and lowered its full-year core profit margin forecast.
Meda, which on July 31 agreed to buy Italy’s Rottapharm, said earnings before interest, tax, depreciation and amortisation rose to 993 million crowns ($144.4 million) from a year-ago 922 million. The mean forecast in a Reuters poll of analysts had been for 1,048 million.
Meda predicted full-year sales of around 15 billion crowns and an EBITDA margin in line with last year‘s, excluding integration costs and other costs associated with the Rottapharm acquisition.
“That corresponds to an expected organic growth for Meda standalone of 2-3 percent in 2014,” it said.
1 US dollar = 6.8769 Swedish crown Reporting by Helena Soderpalm, editing by Anna Ringstrom