Swedish Orphan Biovitrum's distribution agreements with Shire to be discontinued as Shire sets up own Nordic sales organization
Stockholm, Sweden - September 16, 2010 - Swedish Orphan Biovitrum (STO: SOBI)
today announced that they will discontinue their marketing, distribution and
medical support of Xagrid, Fosrenol, and Equasym in the Nordic countries when
the various distribution contracts with Shire expire during 2011. The reason for
the termination of the partnership is that Shire intends to establish a
marketing and sales organization in the Nordic region that will take care of
these products.
The total yearly sales of the products in the Nordic countries is some 90
MSEK. Swedish Orphan Biovitrum resources that have supported the products will
be used to fill resource gaps for products in the launch phase such as Yondelis,
Multiferon and Ruconest.
"We are grateful for the very long and successful partnership with Shire. We
also wish them the best of luck as they set up their own organization and
continue to provide these valuable products to patients who need them in the
Nordic countries. Since we will be able to transfer resources devoted to the
Shire products to new products with strong growth opportunities, the revenue and
profit impact will be limited" said Kennet Rooth, Head of Marketing and Sales at
Swedish Orphan Biovitrum.
"Sobi and Shire have worked well together over a period of more than 12 years.
This collaboration between Sobi and Shire has enabled us to bring several new
medicines to the Nordic region to benefit patients in specialist fields such as
haematology and nephrology at a time when Shire did not have its own
infrastructure in these countries. I appreciate the professionalism of the Sobi
management team and staff and thank them for the quality of their services over
the years," said Tim Tustin, VP and Managing Director, Export at Shire.
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
supportive care 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.
For more information please contact: Swedish Orphan Biovitrum AB (publ):
Kennet Rooth, VP Marketing and Sales
Phone. +46 8 697 23 30
Erik Kinnman, VP Investor Relations
Phone: +46 73 422 15 40
E-mail:erik.kinnman@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 September 16, 2010 at 4 p.m. CET.