Navigation Links
Aspreva obtains shareholder approval for acquisition by Galenica

VICTORIA, BC, Dec. 17 /PRNewswire-FirstCall/ - Aspreva Pharmaceuticals Corporation (NASDAQ: ASPV; TSX: ASV) today announced that Aspreva's shareholders and optionholders have approved the proposed acquisition of Aspreva by Galenica Group (SWX: GALN), through a wholly-owned Canadian subsidiary, at a price of US$26.00 per share in cash. At the special meeting of securityholders held this morning, the transaction was approved by over 99% of the votes cast by shareholders and by over 99% of the votes cast by shareholders and optionholders, voting together as a class.

The transaction is being carried out by way of a statutory plan of arrangement under Section 288 of the British Columbia Business Corporations Act. The closing of the transaction remains subject to final court approval, approval by the Minister of Industry under the Investment Canada Act, as well as the satisfaction or waiver of the conditions specified in the Combination Agreement entered into on October 17, 2007. An application for final court approval is scheduled to be heard by the British Columbia Supreme Court on December 18, 2007. Subject to court approval being obtained, receipt of approval by the Minister of Industry under the Investment Canada Act and the other conditions to closing being satisfied or waived, the transaction is expected to close on January 3, 2008.

Shareholders also today approved an amendment to Aspreva's shareholder rights plan in order to facilitate the proposed acquisition of Aspreva by Galenica Group.

Further details regarding the terms of the transaction are set out in Aspreva's management information circular dated November 15, 2007, which was filed by Aspreva on the Canadian SEDAR website at and on the United States Securities and Exchange Commission's website at

Financial and Legal Advisors

Lazard Freres & Co. LLP and Lehman Brothers Inc. have acted as financial advisors to Aspreva with respect to the plan of arrangement. Aspreva's legal advisors are Farris, Vaughan, Wills & Murphy LLP, McCarthy Tetrault LLP and Cooley Godward Kronish LLP.

About Galenica

Galenica is a diversified group active throughout the healthcare market which, among other things, develops, manufactures and markets pharmaceutical products, runs pharmacies, provides logistical services and access to databases and sets up networks. The Galenica Group enjoys a leading position in all its areas of activity - pharmaceutical manufacturing, pre-wholesaling, distribution, healthcare information and retailing. A large part of the Galenica's income is generated by international operations. For more information please visit

About Aspreva

Aspreva is a global pharmaceutical company focused on identifying, developing, and, upon approval, commercializing evidence-based medicines for patients living with less common diseases. Aspreva common stock is traded on the NASDAQ Global Select Market under the trading symbol ASPV and on the Toronto Stock Exchange under the trading symbol ASV. Learn more about the company at

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable securities laws in Canada (collectively, "forward-looking statements"). The words "anticipates", "believes", "budgets", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "projects", "schedule", "should", "will", "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this news release include, but are not limited to, statements about: the potential acquisition of Aspreva by Galenica in an all cash transaction valued at USD$26.00 per outstanding share (the "Acquisition"); receiving approval from the Minister of Industry under the Investment Canada Act and receiving final approval for the Acquisition from the British Columbia Supreme Court.

With respect to the forward-looking statements contained in this news release, Aspreva has made numerous assumptions regarding, among other things: Galenica's ability to finance the Acquisition valued at USD$26.00 per outstanding share; the ability of Aspreva and Galenica to satisfy all of the closing conditions to complete the Acquisition; Aspreva's ability to protect its intellectual property rights and to not infringe on the intellectual property rights of others; and Aspreva's ability to comply with applicable governmental regulations and standards. Readers are cautioned that the plans, intentions or expectations disclosed in any forward-looking statements and underlying assumptions may not be achieved and that they should not place undue reliance on any forward-looking statement. Actual results or events could differ materially from the plans, intentions, expectations, and assumptions expressed or implied in any forward-looking statements as a result of numerous risks, uncertainties and other factors, including those relating to: the possibility of not satisfying all of the closing conditions to complete the Acquisition; risks related to integration of acquisitions; difficulties or delays in obtaining regulatory approvals; competition from other pharmaceutical or biotechnology companies; economic and capital market conditions; and currency exchange rates.

For a more thorough discussion of the risks associated with Aspreva's business, see the "Risk Factors" section in Aspreva's Quarterly Report on Form 10-Q for the quarter ended September 30, 2007, filed with the U.S. Securities and Exchange Commission at and with securities regulatory authorities in Canada at Although we have attempted to identify important risks, uncertainties and other factors that could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements, there may be other factors that cause actual results or events to differ from those expressed or implied in the forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement and Aspreva undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof.

CONTACT: Sage J. Baker, Vice President, IR & Corporate Communications, Aspreva Pharmaceuticals, (250) 708-4270,

SOURCE Aspreva Pharmaceuticals
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Aspreva to Announce 2007 Third Quarter Results on October 31st
2. Aspreva Announces Preliminary Revenues for Third Quarter 2007
3. Aspreva to be Acquired by Galenica For US$915 Million
4. Aspreva Sends Materials for Special Meeting to be Held December 17
5. GlaxoSmithKline Obtains Exclusive U.S. OTC Marketing Rights to MEVACOR(R) (lovastatin) from Merck & Co., Inc.
6. Patient Lift Manufacturer, Medcare Products, Obtains Women-Owned Certification
7. Arrow International Urges Shareholders To Vote for Approval of the $45.50 Teleflex Inc. Merger and for the Current Board of Directors
8. Zimmer Holdings Offer and ORTHOsoft Directors Circular Mailed to Shareholders
9. Glass Lewis Recommends Arrow Shareholders Vote on the White Proxy Card for Merger With Teleflex and for Current Board of Directors at Arrow Annual Meeting
10. United Medicorp, Inc.s Shareholders Approve All Proposals
11. Arrow International Sends Letter Reminding Shareholders to Vote White Proxy Card in Support of Teleflex Merger and Election of Current Board of Directors
Post Your Comments:
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... Conventional wisdom ... of success. In terms of the latter, setting the bar too high can result ... more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... June 19, ... the dangers associated with chronic pain and the benefits of holistic treatments, Serenity ... who are suffering with Sickle Cell Disease. , Sickle Cell Disease (SCD) is a ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Global law firm ... 2016 Legal Elite. The attorneys chosen by their peers for this recognition are considered ... Seven Greenberg Traurig Shareholders received special honors as members of this year’s Legal Elite ...
(Date:6/24/2016)... ... ... of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair Minimum Wage’ ... 2020 and then adjusting it yearly to increase at the same rate as the median ... floor does not erode again, and make future increases more predictable. , The company is ...
(Date:6/24/2016)... ... June 24, 2016 , ... The ... recognize Dr. Barry M. Weintraub as a prominent plastic surgeon and the network’s ... the world, and the most handsome men, look naturally attractive. Plastic surgery should ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... June 23, 2016 Roche (SIX: RO, ROG; ... for its Elecsys BRAHMS PCT (procalcitonin) assay as a ... septic shock. With this clearance, Roche is the first ... integrated solution for sepsis risk assessment and management. ... infection and PCT levels in blood can aid clinicians ...
(Date:6/23/2016)... 23, 2016 Research and Markets has ... 52" report to their offering. ... creates a favourable commercial environment for MedImmune to enter. The ... that will serve to drive considerable growth for effective anti-influenza ... to cap sales considerably, but development is still in its ...
(Date:6/23/2016)... INDIANAPOLIS , June 23, 2016 If ... Leaders Scholarship is any indication, the future is in ... at by the Diabetes Scholars Foundation ... the way of academic and community service excellence. ... since 2012, and continues to advocate for people with ...
Breaking Medicine Technology: