Meda previously rejected a takeover offer earlier this month. The company subsequently said it had been contacted with a proposal to combine the two companies, but Meda's board rejected this, too.
The stock was up 2.01% to $51.36 at noon on Friday.
The drug company declined Sen. Chuck Grassley's request to testify on pricing practices later this month.
Wall Street runs at two speeds as a rally in financials sent the Dow Jones Industrial Average to close at records, while a selloff in tech sank the Nasdaq.