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Biovitrum and Swedish Orphan will be combined forming Swedish Orphan Biovitrum


Biovitrum AB and Swedish Orphan International AB will be combined forming Swedish Orphan Biovitrum.

Biovitrum and Swedish Orphan share thesame mission and business philosophy of developing and making availableorphan drugs and niche specialty pharmaceuticals for patients with rarediseases and patients with high unmet medical needs.

Complementary capabilities
Swedish Orphan brings recognised and successful business developmentcapabilities, strong expertise in distribution, marketing, regulatoryaffairs, medical and customer support, along with its pan-Europeanpresence.

This is highly complementary to Biovitrum’s strong productdevelopment expertise and manufacturing skills. More specifically,Swedish Orphan brings two proprietary orphan and niche specialty drugsas well as a diverse in-licensing portfolio of approximately 50 orphanand niche specialty drugs with significant growth potential to thecombined group. Biovitrum contributes with its strong hemophiliafranchise, manufacturing capability, several marketed niche specialtyproducts, of which three are proprietary, as well as a late stageclinical development pipeline within rare diseases.

Thecombination of the two companies is expected to be instantly accretiveto earnings per share for Biovitrum’s shareholders.

The combined groupwill generate sales from approximately 60 orphan/niche specialtyproducts plus a pipeline of two phase III and five phase II clinicalproduct candidates to drive future growth. The combination will allowthe new group to realise annual operating cost synergies and costavoidance in excess of SEK 100 million with full effect from 2011.

Inaddition, Swedish Orphan’s established European sales and marketinginfrastructure is expected to accelerate the growth of Biovitrum’scurrent products as well as future pipeline products. The pro formarevenues for 2009 are estimated to reach SEK 2 billion with an EBITDAmargin of about 15 per cent. The new group has a target to reach salesexceeding SEK 5 billion with an EBIT margin exceeding 30 per cent in2015, based on its current product portfolio and pipeline.

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