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BUZZ-Meda falls as Mylan, Abbott talks seen as bitter pill

Reuters - UK Focus

** Shares (Frankfurt: DI6.F - news) in Swedish drug maker Meda (Other OTC: MDABF - news) fall by more than 5 percent after reported deal negotiations between Mylan (NasdaqGS: MYL - news) and Abbott Laboratories (Xetra: 850103 - news) quash hopes that Mylan will return with an improved bid to buy Meda.

** A Reuters report says that Mylan is in advanced talks to buy a large part of Abbott's Europe-based mature drugs for several billion dollars, with some of the people saying the deal would allow Mylan to move its tax address overseas.

** Meda shares are down 5.6 percent at 107.70 Swedish crowns at 0937 GMT, the worst performer on the STOXX 600 Europe healthcare index.

** Mylan earlier this year sought to buy Meda, but was rejected twice by Meda's board of directors who said Meda's biggest shareholder did not support a deal.

Reuters messaging rm://sven.nordenstam.reuters.com@reuters.net