Navigation Links
Aspreva receives final court approval for acquisition by Galenica
Date:12/18/2007

VICTORIA, Dec. 18 /PRNewswire-FirstCall/ - Aspreva Pharmaceuticals Corporation (NASDAQ: ASPV; TSX: ASV) today announced that the British Columbia Supreme Court has issued a final order approving the plan of arrangement under which Galenica Group (SWX: GALN), through a wholly-owned Canadian subsidiary, will acquire all of Aspreva's outstanding shares 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. Subject to 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.

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 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 http://www.galenica.com

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 http://www.aspreva.com

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"); and receiving approval from the Minister of Industry under the Investment Canada Act and the other 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 that the Minister of Industry under the Investment Canada Act will not approve the Acquisition and the possibility of not satisfying all of the other 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 http://www.sec.gov and with securities regulatory authorities in Canada at http://www.sedar.com. 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, sbaker@aspreva.com


'/>"/>
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. Lake Elsinore Family Caregiver Receives Free Power Wheelchair From The SCOOTER Store
7. DaVita Receives Civil Complaint
8. Ranbaxy Receives Tentative Approval to Manufacture and Market Galantamine Tablets on an Exclusive Basis
9. Watson Receives First FDA Approval for Manufacturing Product at Its Goa, India Facility
10. Edwards Lifesciences Receives CE Mark for Edwards SAPIEN Transcatheter Heart Valve
11. PainCare Receives $14.4 Million in Cash From Completed Sale of South Florida Ambulatory Surgery Centers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/23/2017)... ... February 23, 2017 , ... EBSCO Information ... National Institute for Health and Care Excellence (NICE) framework. The agreement ... Health Service (NHS) to search, order and purchase medical and healthcare-related content through ...
(Date:2/23/2017)... Henderson, Nevada (PRWEB) , ... February 23, 2017 , ... ... Eastern Avenue in Henderson, NV 89052. Dr. Mahon was named a 2017 Top Patient ... Local Doctors is an online directory that recognizes local physicians and dentists who ...
(Date:2/23/2017)... ... 23, 2017 , ... ERT, a global data and technology ... Research, a leading clinical development service provider, has selected ERT’s Trial Oversight suite ... in part to an array of circumstances including the use of multiple data ...
(Date:2/23/2017)... ... February 23, 2017 , ... Healthcare Research & Analytics® (HRA®) ... fight against cancer, has produced a seminal study that asked cancer survivors and ... findings in a webinar, Defining Compassionate Care Through the Voices of Patients and ...
(Date:2/23/2017)... ... ... perfect opportunity for the nation to come together to combine ... bracket – with its favorite fruit – apples! To celebrate ... lovers to join the “Apple Madness” bracket tournament – a ...
Breaking Medicine News(10 mins):
(Date:2/23/2017)... -- Cogentix Medical, Inc. (NASDAQ: CGNT), a medical device company ... the urology market, will release financial results for the ... before the market open on Thursday, March 9, 2017. ... call and webcast to discuss its financial results the ... a.m. Eastern Time (10:00 a.m. Central Time). Darin ...
(Date:2/23/2017)... -- Research and Markets has announced the addition of ... report to their offering. ... The latest research Oesophageal Cancer Drugs Price Analysis ... the global Oesophageal Cancer market. The research answers the ... drugs marketed for Oesophageal Cancer and their clinical attributes? How are ...
(Date:2/23/2017)... According to a new market ... Digital, Analog), MRI (Closed, Open), Ultrasound, CT, Nuclear Imaging ... User (Hospitals, Imaging Centers) - Global Forecast to 2021", ... over the forecast period of 2016 to 2021. The ... 2021, at a CAGR of 6.6% from 2016 to ...
Breaking Medicine Technology: