Change in agreement regarding additional purchase consideration for Multiferon®
(Thomson Reuters ONE) -
A new agreement has been signed regarding the additional purchase consideration
for Multiferon and the hepatitis C clinical study which was included in the
agreement with the sellers upon Biovitrum's acquisition of Swedish Orphan 2009.
Under the new agreement the sellers are waiving the requirements of an
additional purchase consideration and implementation of the study in exchange
for a one-time payment of SEK 25 million. The agreement gives Sobi more
flexibility in the future development of Multiferon and an opportunity to study
and evaluate other indications in the specialty pharmaceuticals field.
As a result of the new agreement the booked liability for the additional
purchase consideration will be resolved and approximately SEK 145 million will
be included as a positive non-recurring item in operating income for the second
quarter of 2011.
The additional purchase consideration in the 2009 agreement was based on annual
future sales of Multiferon exceeding certain threshold values. The additional
purchase consideration was calculated at a maximum of SEK 425 million and was to
be paid out no later than during the 2018 calendar year.
Regarding the clinical study for Multiferon as second-line treatment for
hepatitis C, in July 2010 Sobi communicated its decision not to pursue the study
as new and positive clinical data for competing hepatitis C therapies had been
presented earlier that year. Discussions have since been carried on with
representatives of the former owners regarding the future clinical program for
this product.
Multiferon has so far been approved in a number of European countries for two
indications - the treatment of high-risk malignant melanoma and second-line
treatment of patients who cannot tolerate or who are not responding to treatment
with alpha interferon regardless of the underlying disease.
For additional information, please contact:
Åsa Stenqvist, VP Communications and Investor Relations
Tel: +46 8 697 21 88
About Swedish Orphan Biovitrum (Sobi)
Sobi is a leading European specialty pharmaceutical company focused on providing
and developing specialty pharmaceuticals for patients with rare diseases and
significant medical needs. The portfolio comprises about 60 marketed products,
as well as projects in late clinical phase. Key therapeutic areas are
hematological diseases, autoimmune diseases, hereditary metabolic disorders and
therapeutic oncology. In 2010 Sobi had revenues of SEK 1.9 billion and
approximately 500 employees. The share (STO: SOBI) is listed on NASDAQ OMX
Stockholm. For more information please visitwww.sobi.com
The above information has been made public in accordance with the Swedish
Securities Market Act and/or the Financial Instruments Trading Act. The
information was released for public distribution on June 30, 2011 at 8.30 CET.
Sobi Press Release June 30, 2011 - pdf format:
http://hugin.info/134557/R/1527034/462741.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#1527034]
Unternehmensinformation / Kurzprofil:
Datum: 30.06.2011 - 08:32 Uhr
Sprache: Deutsch
News-ID 55984
Anzahl Zeichen: 3826
contact information:
Town:
Stockholm
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Change in agreement regarding additional purchase consideration for Multiferon®"
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Swedish Orphan Biovitrum AB (publ) (Nachricht senden)
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