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Aspreva receives Investment Canada approval for acquisition by Galenica
Date:12/21/2007

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 http://www.sedar.com and on the United States Securities and Exchange Commission's website at http://www.sec.gov.

Financial and Legal Advisors

Lazard Freres & Co. LLP and Lehman Brothers Inc. have acted as financial advisors to Aspreva with respect to
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SOURCE Aspreva Pharmaceuticals
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