Swedish Orphan Biovitrum AB (publ) (SE) - Swedish Orphan Biovitrum's distribution agreements with Shire to be discontinued as Shire sets up own Nordic sales organization
Stockholm, Sweden - September 16, 2010 - Swedish Orphan Biovitrum (STO: SOBI) today announced that they will discontinue their marketing, distribution and medical support of Xagrid, Fosrenol, and Equasym in the Nordic countries when the various distribution contracts with Shire expire during 2011. The reason for the termination of the partnership is that Shire intends to establish a marketing and sales organization in the Nordic region that will take care of these products.
The total yearly sales of the products in the Nordic countries is some 90 MSEK. Swedish Orphan Biovitrum resources that have supported the products will be used to fill resource gaps for products in the launch phase such as Yondelis, Multiferon and Ruconest.
"We are grateful for the very long and successful partnership with Shire. We also wish them the best of luck as they set up their own organization and continue to provide these valuable products to patients who need them in the Nordic countries. Since we will be able to transfer resources devoted to the Shire products to new products with strong growth opportunities, the revenue and profit impact will be limited" said Kennet Rooth, Head of Marketing and Sales at Swedish Orphan Biovitrum.
"Sobi and Shire have worked well together over a period of more than 12 years. This collaboration between Sobi and Shire has enabled us to bring several new medicines to the Nordic region to benefit patients in specialist fields such as haematology and nephrology at a time when Shire did not have its own infrastructure in these countries. I appreciate the professionalism of the Sobi management team and staff and thank them for the quality of their services over the years," said Tim Tustin, VP and Managing Director, Export at Shire.
About Swedish Orphan Biovitrum
Swedish Orphan Biovitrum is a Swedish based niche specialty pharmaceutical company with an international market presence. The company is focused on providing and developing specialist pharmaceuticals for rare disease patients with high medical needs. The portfolio consists of about 60 marketed products and an emerging late stage clinical development pipe-line. Our focus areas are: hemophilia, inflammation/autoimmune diseases, fat malabsorption, cancer supportive care and inherited metabolic disorders. Swedish Orphan Biovitrum had pro-forma revenues 2009e of about 2 BSEK and approximately 500 employees. The head office is located in Sweden and the share (STO: SOBI) is listed on NASDAQ OMX Stockholm. For more information please visit www.sobi.com<http://www.sobi.com/>.
For more information please contact: Swedish Orphan Biovitrum AB (publ):
Kennet Rooth, VP Marketing and Sales Phone. +46 8 697 23 30
Erik Kinnman, VP Investor Relations Phone: +46 73 422 15 40 E-mail: firstname.lastname@example.org
Swedish Orphan Biovitrum may be required to disclose the information provided herein pursuant to the Swedish Securities Markets Act. The information was provided for public release on September 16, 2010 at 4 p.m. CET.
Press release in PDF format<http://hugin.info/134557/R/1444884/388401.pdf>
Posted: September 2010