Merger of Biovitrum and Swedish Orphan
Biovitrum and Swedish Orphan have combined forming Swedish Orphan Biovitrum. The mission of the new company is to develop and make available orphan drugs and niche specialty pharmaceuticals for patients with rare diseases and with high unmet medical needs. Swedish Orphan Biovitrum has commercial presence in all of Europe with an emerging presence in North America and Australia/New Zealand, a strong business development track-record and compelling product development and manufacturing capabilities.
Swedish Orphan Biovitrum is a new niche specialty pharmaceutical company focused on rare diseases – a company with a strong cash flow and good growth potential which has a very exciting future ahead. The company has access to about 60 orphan or niche specialty products, two phase III and six phase II product candidates. Pro forma sales for 2009 have been estimated to 2 billion SEK.
The merger is a natural part of Biovitrum’s new business strategy which was adopted in 2007. The decision then was to focus on the attractive niche specialty pharmaceuticals market and on rare diseases, and at the same time seeks to generate profitable and stable growth derived from product sales to a greater extent than in the past. The new strategy has significantly changed Biovitrum’s business over the past two years, on both the revenue and the cost side – a change that will now accelerate.
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