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Aspreva to be Acquired by Galenica For US$915 Million
Date:10/17/2007

- All-Cash Transaction Valued at US$26.00 Per Share -

VICTORIA, Oct. 17 /PRNewswire-FirstCall/ - Aspreva Pharmaceuticals Corporation (NASDAQ: ASPV; TSX: ASV) today announced that it has entered into a combination agreement with Galenica Group (SWX: GALN) under which Galenica, 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 total value of the transaction is approximately US$915 million.

This all-cash transaction for 100 per cent of the company's shares represents a 16 per cent premium over Aspreva's closing price on October 16th, 2007 and a 24 per cent premium over the 30-day average trading price of Aspreva shares.

Aspreva will host a conference call on October 18th, 2007, at 10:00 a.m. PT/ 1:00 p.m. ET to discuss the proposed acquisition.

The transaction was unanimously approved by Aspreva's Board of Directors on October 17th, following receipt of the recommendation of a Special Committee of the Board. Aspreva's Board has also resolved to recommend to shareholders that they vote in favor of the transaction. In determining to recommend the transaction to Aspreva shareholders, the Board of Directors considered a number of factors and received opinions from the company's financial advisors, Lazard and Lehman Brothers Inc., to the effect, and subject to the assumptions and conditions set forth in such opinions, that the consideration to be received by the holders of Aspreva common shares in the transaction is fair to such holders from a financial point of view.

About the Transaction

The transaction will be carried out by way of a statutory plan of arrangement under Section 288 of the Brit
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SOURCE Aspreva Pharmaceuticals
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