Medivir to buy BioPhausia for around $90 million

12 April 2011

Sweden’s Medivir AB (OMX Nordic: MVIR), an emerging research-based specialty pharmaceutical company focused on infectious diseases, has made an offer to acquire all the shares of BioPhausia AB (OMX Nordic: BIOP) a profitable, Sweden-based Nordic specialty pharma company and all Listed Warrants issued by BioPhausia.

The offer values BioPhausia at about 565 million Swedish kronor ($90.8 million) and represents a premium of 44% to the volume weighted average price of around 1.14 kronor over the 30 calendar days up to and including April 8, 2011, the last trading day prior to the announcement of the offer.

In conjunction with news of the offer, Stockholm-headquartered BioPhausia issued preliminary figures showing that net sales for January-March, 2011 amounted to approximately 134 million kronor, compared to 112 million kronor for the corresponding period in 2010. Earnings before depreciation and amortization (EBITDA) for the period amounted to around 31million kronor (including non-recurring income of some 2million kronor), compared to 10 million kronor for the corresponding period in 2010.

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