Navigation Links
Aspreva receives Investment Canada approval for acquisition by Galenica

VICTORIA, Dec. 21 /PRNewswire-FirstCall/ - Aspreva Pharmaceuticals Corporation (NASDAQ: ASPV; TSX: ASV) today announced that the Minister of Industry, under the Investment Canada Act, has approved the 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.

The transaction, which is being carried out by way of a statutory plan of arrangement under Section 288 of the British Columbia Business Corporations Act, was approved by Aspreva shareholders and optionholders at a special meeting held on December 17, 2007. In addition, the British Columbia Supreme Court issued a final order approving the plan of arrangement on December 18, 2007. Under the terms of the Combination Agreement entered into on October 17, 2007 all conditions to Galenica's obligation to complete the transaction will be deemed to have been satisfied or waived two business days after the date of this press release. Closing of the transaction is subject to the satisfaction or waiver of the remaining conditions for the benefit of Aspreva as specified in the Combination Agreement. The transaction is expected to close on January 3, 2008.

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 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"); the remaining conditions to the closing being satisfied or waived; and the expected closing of the Acquisition on January 3, 2008.

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; 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. Aspreva obtains shareholder approval for acquisition by Galenica
6. Aspreva receives final court approval for acquisition by Galenica
7. Lake Elsinore Family Caregiver Receives Free Power Wheelchair From The SCOOTER Store
8. DaVita Receives Civil Complaint
9. Ranbaxy Receives Tentative Approval to Manufacture and Market Galantamine Tablets on an Exclusive Basis
10. Watson Receives First FDA Approval for Manufacturing Product at Its Goa, India Facility
11. Edwards Lifesciences Receives CE Mark for Edwards SAPIEN Transcatheter Heart Valve
Post Your Comments:
(Date:11/29/2015)... Los Angeles, Ca (PRWEB) , ... November 29, 2015 , ... ... from the American Board of Ophthalmology on November 25th 2015. Peer Certification ... in the field of his specialty. Certification in Ophthalmology is first obtained after the ...
(Date:11/29/2015)... ... November 29, 2015 , ... Effective immediately, every single IguanaMed scrub ... on Black Friday Target is offering a “Buy One Scrub Set, Get the 2nd ... opportunity to purchase IguanaMed at a discounted price. , IguanaMed’s mission is ...
(Date:11/28/2015)... ... November 28, 2015 , ... Trying to relax on a couch ... BUDDY. "I conceived of this design due to personal experience with a bad back," ... promotes relaxation and convenience, as well as increases support. It also makes it easier ...
(Date:11/27/2015)... , ... November 27, 2015 , ... According to an ... recent 2015 American Dental Association meeting in Washington D.C. revolved around the fact that ... patient’s overall health. The talk stressed the link between periodontal disease (more commonly referred ...
(Date:11/27/2015)... ... November 27, 2015 , ... A team of Swiss doctors has released ... Surviving Mesothelioma has just posted the findings on the website. Click here to ... cases of 136 mesothelioma patients who were treated with chemotherapy followed by EPP surgery. ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... , November 26, 2015 ... of the "2016 Future Horizons and ... Abuse Testing Market: Supplier Shares, Country Segment ... to their offering. --> ... "2016 Future Horizons and Growth Strategies ...
(Date:11/26/2015)... 26, 2015 ... of the  "2016 Future Horizons and ... Drug Monitoring (TDM) Market: Supplier Shares, ... Opportunities"  report to their offering.  ... the addition of the  "2016 Future ...
(Date:11/26/2015)... 26, 2015 ... of the  "2016 Future Horizons and ... Surface Marker Testing Market: Supplier Shares, ... their offering.  --> ... the  "2016 Future Horizons and Growth ...
Breaking Medicine Technology: