Galenica acquires Aspreva

By Katrina Megget

- Last updated on GMT

Related tags: Pharmacology

Swiss pharmaceutical and logistics company Galenica is to acquire
Canadian pharmaceutical company Aspreva Pharmaceuticals for $915m
(€645.2m).

The move looks to complement Galenica's core business areas and will allow the company to develop into a fully-integrated specialty pharma group. Aspreva focuses on the research, development and commercialisation of new therapeutic indications for existing drugs, particularly in areas where there are few treatment options or for rare diseases. "The acquisition is strategically an excellent addition to Galenica's portfolio of companies. Aspreva Pharmaceutical's core competences and know-how are complementary to the strengths of Galenica Group's pharmaceutical companies. The integration offers new opportunities for further development and opens up new perspectives for growth,"​ Galenica said in a statement. The acquisition would allow Galenica's subsidiary Vifor (International) to develop its existing product pipeline and extend product indications while penetrating new markets, the statement said. "Vifor products can thus be introduced to markets faster, in a more targeted fashion and on a broader scale. The prime beneficiaries here will be the intravenous iron deficiency product Ferinject and the phosphate binder PA21, which is currently in the development phase,"​ Galenica said. Aspreva is working with Roche and is researching the efficacy of Roche's drug CellCept (mycophenolate mofetil) in the treatment of lupus nephritis, a chronic autoimmune disease. The drug was originally developed by Roche as a prevention of organ transplant rejection symptoms. On Tuesday, Aspreva announced its preliminary and unaudited net revenues for the third quarter of 2007 which were approximately $62 million compared to $47.9 million revenue in the third quarter of 2006. Last year, the company generated $214.8m in revenues. Aspreva shareholders are to decide whether to approve the acquisition in December.

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