Swedish drugmaker Meda to explore sale of U.S. operations- Bloomberg

Aug 28 (Reuters) - Swedish drug maker Meda AB is exploring options to sell its U.S. subsidiary Meda Pharmaceuticals Inc, which could be worth about $1 billion, Bloomberg reported, citing people familiar with the matter.

Meda may use the sale proceeds to reduce debt and seek other acquisitions, Bloomberg said. (http://bloom.bg/1JphLiE)

Meda could not immediately be reached for comment outside regular business hours.

Meda's U.S. unit, based in Somerset, New Jersey, manufactures and sells a range of respiratory drugs.

Last year, the company divested its manufacturing unit in Lakewood, New Jersey, to the contract manufacturer DPT.

Rothschild is advising Meda on the potential sale process, which may begin as early as September, Bloomberg reported, citing the people.

(Reporting by Rama Venkat Raman in Bangalore; Editing by Leslie Adler)