STOCKHOLM, SWEDEN--(Marketwire - November 05, 2010) - Swedish Orphan Biovitrum (STO: SOBI) today announced a mutual agreement with Amgen whereby Swedish Orphan Biovitrum will sell back its co-promotion rights in the Nordic countries for Mimpara® (cinacalcet) to Amgen (NASDAQ: AMGN) for strategic business reasons. Swedish Orphan Biovitrum will receive an undisclosed payment from Amgen for these rights upfront.
“We have appreciated the long and successful Mimpara partnership with Amgen. We are grateful that they will continue to provide this valuable product to patients in need in the Nordic countries. Swedish Orphan Biovitrum resources that have supported the product will be used to fill resource gaps for products that are moving into the launch phase such as Yondelis, Multiferon and Ruconest.” said Kennet Rooth, Head of Marketing and Sales at Swedish Orphan Biovitrum.
About Mimpara® (cinacalcet)
Mimpara is a specialist care product indicated for the treatment of secondary hyperparathyroidism in patients with chronic kidney disease on dialysis. The product is also indicated for the treatment of hypercalcemia in patients with parathyroid carcinoma, as well as for managing hypercalcemia in patients with primary hyperparathyroidism, when surgery not is an option. These rights were granted to Biovitrum in 2003 as part of the 11betaHSD out-licensing deal with Amgen. Swedish Orphan Biovitrum has co-promoted Mimpara together with Amgen in the Nordic region since its launch in 2005. Swedish Orphan Biovitrum’s co- promotion revenues for Mimpara were in 2009 26.2 MSEK.
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 November 5, 2010 at 8:00 a.m. CET.
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Press release November 5 in PDF format: http://hugin.info/134557/R/1459256/398739.pdf
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Source: Swedish Orphan Biovitrum AB (publ) via Thomson Reuters ONE
For more information please contact:
Swedish Orphan Biovitrum AB (publ):
Kennet Rooth
VP Marketing and Sales
Phone. +46 8 6972330
Erik Kinnman
VP Investor Relations
Phone: +46 73 422 15 40
Email Contact
