Biovitrum Full Year Report 2008

Strong cash flow from core business. By product acquisition,
Biovitrum now is an international biopharmaceutical company.

October - December


*            Biovitrum acquired on the December 15th the drugs
             Kepivance® and Stemgen® from Amgen as well as an
             exclusive license for Kineret®.  The acquisition implies
             an expansion of Biovitrum's commercial operations to
             include other areas in Europe, North America and
             Australia/New Zealand. Sales in the second half of
             December amounted to SEK 32.1 M for these products.

*            Net revenues increased by 5 percent to SEK 314.3 M
             compared to the same period last year (299.5). Profit
             for the quarter before non-recurring expenses was SEK
             15.4 M (-2.4).

*            Profit, including non-recurring cost amounted to SEK
             -246.6 M (-2.4). Non-recurring cost includes
             restructuring of Research & Development and write-downs
             of assets, SEK 226.2 M and cost for building-up of
             commercial infrastructure SEK 66.4 M. Earnings  per
             share before non-recurring costs was 0.33 SEK (-0.05)
             and including non-recurring costs -5.26 SEK (-0.05).

*            Cash flow from operations, excluding the acquisition of
             the three new products, improved by SEK 220.5 M to SEK
             209.8 M (-10.7). Including the acquisition, the cash
             flow amounted to SEK -382.7 M (-10.7).

*            The agreement regarding manufacturing of the hemophilia        drug ReFacto® for Wyeth was extended until December
             31st, 2015.

*            Factor IXFc for the treatment of hemophilia B received
             orphan drug status in the US.

*            Positive results were reported from a clinical study
             showing that the Sym001 drug candidate eliminates RhD
             positive red blood cells from the circulation.


January - December


*            Net revenues amounted to SEK 1,140.6 M (1,256.4) and the
             profit for the year before non-recurring costs was SEK
             60.4 M (79.0), which represents earnings per share of
             SEK 1.31  (1.73). Results including non-recurring costs
             were -335.5 SEK M, representing earnings per share of
             SEK -7.28 (1.73).

*            Cash flow from operations was -506.7 M (-25.4). Before
             acquisition and restructuring costs cash flow was SEK
             164.8 M. Cash and cash equivalents and short-term
             investments as of December 31st amounted to SEK 460.1 M
             (760.4).

*            In line with the new business strategy to focus on
             protein drugs within specialist indications, the number
             of employees working in research and development will be
             reduced. The final parts of the restructuring process
             will be implemented during 2009 after which the number
             of employees within R&D will be reduced from 353 at the
             end of 2007 to 170.

*            At the end of the year, Biovitrum had six specialist
             pharmaceutical projects in clinical studies and one in
             preclinical development.


After the end of period


*            The process of selling the UK research unit Cambridge
             Biotechnology (CBT) has been initiated.






CEO's comments:"In 2008 Biovitrum went through a comprehensive process to transform
the company's commercial operations according to the business
strategy launched at the end of 2007. We acquired three unique
marketed products with growth potential. The acquisition also means
that Biovitrum has established a commercial presence in Europe, North
America and Australia/New Zealand. We also implemented a radical
restructuring of our research organization. The R&D organization is
now focusing on protein drugs, and the restructuring will lead to
lower research costs. The extension of the manufacturing agreement
with Wyeth for ReFacto® was also a very important event. Thanks to
these radical and successful initiatives we are well on the way
towards long-term profitability. We now also have the infrastructure
to handle additional product acquisitions, licensing and a
broad-based launch of our own products, and thereby generate further
growth" says Biovitrum's CEO Martin Nicklasson.



For further information, please contact

Martin Nicklasson, CEO
Phone: +46 8 697 2545

Göran Arvidson, CFO
Cell phone: +46 8 697 23 27

Erik Kinnman, VP Investor Relations
Cell phone: +46 73 422 15 40
erik.kinnman@biovitrum.com


About Biovitrum

Biovitrum is a Swedish pharmaceutical company. The company markets  a
range  of  specialist  pharmaceuticals  internationally.  Using   its
expertise and experience  Biovitrum takes  scientific innovation  all
the way  to the  market and  to specialist  indication patients  with
significant medical  need. Research  expertise and  capabilities  are
focused on development and  production of biotechnology  therapeutics
within our prioritized  areas of hemophilia,  inflammation/autoimmune
diseases and malabsorption. The company has revenues of approximately
SEK 1.1 billion  and around 400  employees. It is  listed on the  OMX
Nordic  Exchange  in   Stockholm.  For  more   information  go  to
www.biovitrum.com.

Biovitrum AB (publ) may be required to disclose the information
provided herein pursuant to the Swedish Securities Markets Act. The
information was provided for public release on February 10, 2009 at
08:30 a.m. CET.