STOCKHOLM, SWEDEN--(Marketwire - January 11, 2011) - Swedish Orphan Biovitrum (STO: SOBI) and BL&H Co., Ltd. (Better Life & Health) today signed a distribution agreement for the products Orfadin and Kepivance in South Korea. BL&H will pay Swedish Orphan Biovitrum (Sobi) an undisclosed transfer price for the products and will be responsible for registering the products in South Korea.
Since, the South Korean Food and Drug Administration registration process is adapted to products already approved by the FDA or EMA, a registration and price reimbursement can be expected approximately one year from application. Sales on a named patient basis can be initiated already during 2011.
"We are very pleased to initiate a partnership with Sobi," said Dong Chul Roh, CEO of BL&H. "There is an unmet medical need for these products in South Korea, and we believe that we will be able to successfully provide Orfadin and Kepivance to patients in this region."
"We are very excited about the possibility to work with BL&H Co., Ltd. on providing Orfadin and Kepivance to patients who need these innovative products in South Korea. BL&H has extensive experience and expertise in the sales and marketing of rare disease products in South Korea and we look forward to a fruitful partnership." said Anders Edvell, Head of Marketing and Sales at Swedish Orphan Biovitrum.
About Orfadin™
There are around 700 known children throughout the world with the hereditary disease tyrosinaemia type 1 (HT-1). The disease is caused by a genetic disorder which means that the patient breaks down the amino acid tyrosine to toxic metabolites. HT-1 primarily affects the liver, which ceases to function. The disease exists in several forms. The acute form usually leads to death prior to the child's first birthday if untreated. There is also a more chronic form of the disease, which is also usually fatal. By blocking an enzyme, Orfadin causes the amino acid tyrosine to be broken down in a way which is harmless to the body. Untreated, the risk of dying in the disease is up to 80 per cent while the patients who are treated with Orfadin together with a certain diet have a survival rate of over 90 per cent.
About Kepivance® (palifermin)
Kepivance® is indicated to decrease the incidence and duration of severe oral mucositis in patients with hematologic malignancies receiving myelotoxic therapy requiring hematopoietic stem cell support. Information about Kepivance® can be found at: http://www.kepivance.com/
Healthcare professionals should refer to national labeling texts.
About BL&H Co., Ltd.
BL&H is a privately owned pharmaceutical company based in South Korea. BL&H was established in 1999 with the aim of becoming a leader in the delivery of pharmaceuticals and services that fulfill unmet medical needs in the Korean market. BL&H specializes in hospital-based products in hematology, oncology, rheumatology and respiratory medicines. The management team has extensive experience in the pharmaceutical and healthcare sectors and in bringing specialty products to market.
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 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.
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 January 11, 2011 at 8:30 a.m. CET.
Press release in PDF format: http://hugin.info/134557/R/1478653/414424.pdf
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Source: Swedish Orphan Biovitrum AB (publ) via Thomson Reuters ONE
[HUG#1478653]
For more information please contact:
Swedish Orphan Biovitrum AB (publ):
Anders Edvell
VP Marketing and Sales
Phone +46 70 544 6126
