Biovitrum AB and Swedish Orphan Form New Niche Specialty Pharmaceutical Company
alarmClock Nov 06 09Nordic biotechnology companies Biovitrum AB and Swedish Orphan announced plans to merge. The newly formed company will be Swedish Orphan Biovitrum (SO-Bi) focused, to design and manufacture specialty pharmaceuticals for rare diseases. Biovitrum AB has agreed to pay kr3.5B ($500M) to initiate a guaranteed rights issue of financing. The deal will directly increase earnings per share for Biovitrum's shareholders. Sharing a similar vision and philosophy each company brings strong core competencies. Biovitrum AB brings to the deal its manufacturing infrastructure, a few late stage clinical development products, and several specialty products available on the market. Full story...
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