STOCKHOLM, SWEDEN--(Marketwire - February 16, 2012) - Sobi and Pfizer have extended their
supply agreement for ReFacto AF®/XYNTHA®
until 31 December 2020, with an option to be further renewed. The previous
agreement was due to expire in 2015.
Sobi will continue to be the global supplier of the drug substance for
ReFacto
AF®/XYNTHA®, which is produced in the company's plant in
Stockholm.
In a separate agreement, Sobi and Pfizer have agreed that Sobi will return
the
co-promotion rights for ReFacto® and BeneFIX® in the Nordic
region to Pfizer as
of 15 February 2012 in exchange for a payment to Sobi in the amount of USD
47.5
M.
Sobi's total revenues from ReFacto AF®/XYNTHA® in the first nine
months of 2011
amounted to SEK 542 M, of which manufacturing accounted for SEK 374 M,
royalties
for SEK 95 M and co-promotion for SEK 73 M. Sobi's agreement regarding
royalties
from Pfizer's global sales of ReFacto AF®/XYNTHA® is unchanged.
"We are very pleased to extend the term of our supply agreement and to
continue
this long and successful partnership with Pfizer. Simplifying our
relationship
around the commercialization of ReFacto® and BeneFIX® will also
enable Sobi to
focus on building its own presence in the hemophilia area," says Geoffrey
McDonough, President and CEO of Sobi.
About ReFacto AF®/XYNTHA®
ReFacto AF®/XYNTHA® is a recombinant protein drug for treatment
of hemophilia A.
In this form of bleeding disorder, the blood's ability to coagulate is
compromised due to a deficiency of coagulation factor VIII in the blood.
Uncontrolled internal bleeding may produce pain and swelling as well as
permanent damage, especially in joints. Injections of factor VIII and
proper
health care allow most persons with hemophilia A to live a normal life.
ReFacto
AF® is the trademark for the product in Europe and XYNTHA® is the
registered
trademark in the US, Canada, Australia and other select global markets.
BeneFIX®
is a recombinant protein drug for treatment of hemophilia B and the
deficiency
of coagulation factor IX.
Telephone conference
CEO Geoffrey McDonough and CFO Lars Sandström will be available for
questions at
9.30 a.m. CET. Please call:
Sweden: +46 (0)8 505 598 09
UK: +44 (0)207 750 9950
USA: +1 866 676 58 69
Swedish Orphan Biovitrum (Sobi)
Sobi is a leading integrated biopharmaceutical company dedicated to
bringing
innovative therapies and services to improve the health of rare disease
patients
and their families. The product portfolio comprises about 60 marketed
products
as well as projects in the late clinical phase. Key therapeutic areas are
Inflammation and Genetics & Metabolism. In 2010 Sobi had revenues of SEK
1.9
billion and around 500 employees. The share (STO: SOBI) is listed on OMX
NASDAQ
Stockholm. More information is available at www.sobi.com.
The information above has been published pursuant to the Swedish 3 Market
Act
and/or the Financial Instruments Trading Act. The information was released
for
public distribution on 16 February 2012 at 08.30 a.m. CET.
Sobi Press Release February 16, 2012 in pdf format :
http://hugin.info/134557/R/1586376/497240.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Swedish Orphan Biovitrum AB (publ) via Thomson Reuters ONE
[HUG#1586376]
