Medivir Subsidiary BioPhausia AB Sells Generics Business
HUDDINGE, Sweden, Aug 26, 2011 (BUSINESS WIRE) --
Medivir AB (omx:MVIR), is an expanding, research-based specialty pharmaceutical company focusing on infectious diseases.
Medivir reports that on 25 August, BioPhausia AB reached an agreement to sell its generics business in the form of subsidiary BMM Pharma AB to Bluefish Pharmaceuticals AB for SEK 26 m plus the value of inventories, some SEK 12 m. The staff of BMM Pharma will not transfer in the acquisition.
"This deal is a natural last step in the concentration and focus of BioPhausia's business, which began about a year ago. We will now be focusing on the ongoing commercial development of our Proprietary Products and Parallel Imported Products" commented Maris Hartmanis, CEO of BioPhausia AB.
Medivir is an emerging research-based specialty pharmaceutical company focused on the development of high-value treatments for infectious diseases. Medivir has world-class expertise in polymerase and protease drug targets and drug development in this segment, which has resulted in a broad-based infectious disease R&D portfolio. The company's key pipeline asset is TMC435, a protease inhibitor in phase 3 clinical development for hepatitis C and is partnered with Tibotec Pharmaceuticals. In June 2011, Medivir acquired the specialty pharmaceutical company BioPhausia in order to commercialize TMC435 in the Nordic markets once approved.
Medivir's first product, the unique cold sore product Xerese(R)/Xerclear(R), was launched on the US market in February 2011. Xerese(R)/Xerclear(R), which has been approved in both the US and Europe, is being launched in partnership with GlaxoSmithKline for OTC sale in Europe, Japan and Russia. Rights in North America, Canada and Mexico were recently sold to Meda AB. Medivir has retained the Rx rights to Xerclear(R) in Sweden and Finland.
For more information on Medivir, please visit the company's website: www.medivir.com .
This information was brought to you by Cision http://www.cisionwire.com
www.medivir.com Rein Piir, CFO and VP
Mobile: +46 (0)070 853 7292
+44(0)20 7920 2330
Peter Laing / Amber Bielecka / Claire Dickinson