Sobi and Pfizer have extended their supply agreement for ReFacto AF®/XYNTHA® until 31 December 2020, with an option to be further renewed. The previous agreement was due to expire in 2015.
Sobi will continue to be the global supplier of the drug substance for ReFacto AF®/XYNTHA®, which is produced in the company's plant in Stockholm.
In a separate agreement, Sobi and Pfizer have agreed that Sobi will return the co-promotion rights for ReFacto® and BeneFIX® in the Nordic region to Pfizer as of 15 February 2012 in exchange for a payment to Sobi in the amount of USD 47.5 M.
Sobi's total revenues from ReFacto AF®/XYNTHA® in the first nine months of 2011 amounted to SEK 542 M, of which manufacturing accounted for SEK 374 M, royalties for SEK 95 M and co-promotion for SEK 73 M. Sobi's agreement regarding royalties from Pfizer's global sales of ReFacto AF®/XYNTHA® is unchanged.
"We are very pleased to extend the term of our supply agreement and to continue this long and successful partnership with Pfizer. Simplifying our relationship around the commercialization of ReFacto® and BeneFIX® will also enable Sobi to focus on building its own presence in the hemophilia area," says Geoffrey McDonough, President and CEO of Sobi.
About ReFacto AF®/XYNTHA®
ReFacto AF®/XYNTHA® is a recombinant protein drug for treatment of hemophilia A. In this form of bleeding disorder, the blood's ability to coagulate is compromised due to a deficiency of coagulation factor VIII in the blood. Uncontrolled internal bleeding may produce pain and swelling as well as permanent damage, especially in joints. Injections of factor VIII and proper health care allow most persons with hemophilia A to live a normal life. ReFacto AF® is the trademark for the product in Europe and XYNTHA® is the registered trademark in the US, Canada, Australia and other select global markets. BeneFIX® is a recombinant protein drug for treatment of hemophilia B and the deficiency of coagulation factor IX.
Telephone conference
CEO Geoffrey McDonough and CFO Lars Sandström will be available for questions at 9.30 a.m. CET. Please call:
Sweden: +46 (0)8 505 598 09
UK: +44 (0)207 750 9950
USA: +1 866 676 58 69
Swedish Orphan Biovitrum (Sobi)
Sobi is a leading integrated biopharmaceutical company dedicated to bringing innovative therapies and services to improve the health of rare disease patients and their families. The product portfolio comprises about 60 marketed products as well as projects in the late clinical phase. Key therapeutic areas are Inflammation and Genetics & Metabolism. In 2010 Sobi had revenues of SEK 1.9 billion and around 500 employees. The share (STO: SOBI) is listed on OMX NASDAQ Stockholm. More information is available at www.sobi.com (http://www.sobi.com/).
The information above has been published pursuant to the Swedish 3 Market Act and/or the Financial Instruments Trading Act. The information was released for public distribution on 16 February 2012 at 08.30 a.m. CET.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Swedish Orphan Biovitrum AB (publ) via Thomson Reuters ONE
