Sweden's Biovitrum has snapped up Swedish Orphan in a $493 million deal. The merger will create Swedish Orphan Biovitrum, marrying Orphan's business and marketing savvy with Biovitrum's development skills on orphan and niche drugs.
"The two companies fit like a hand in a glove," Biovitrum said. "In one giant leap we form a company with a leading position within rare diseases and a solid platform for future growth and profitability."
"Along with Biovitrum's product portfolio and late stage pipeline, we can further leverage Swedish Orphan's strong platform in a value creating manner while continuing both companies' commitment to rare disease patients and patients with unmet medical needs," says Swedish Orphan CEO Bo Jesper Hansen.
- check out the Biotvitrum release
- here's the Reuters story