November 9, 2009 - Assignment

Biovitrum acquires Swedish Orphan and forms Swedish Orphan Biovitrum

Mannheimer Swartling has advised Biovitrum in its acquisition of Swedish Orphan from Investor, Priveq and Swedish Orphan management. Biovitrum is paying SEK 3.5 billion (on a cash and debt free basis), financed through a fully guaranteed rights issue, bank financing and an issue in kind of shares and, potentially, convertible participating debentures.

A consortium of Swedish and international banks managed the divestment process of Swedish Orphan, a company in the orphan drug industry. Biovitrum, an international specialist pharmaceutical company, is listed on NASDAQ OMX Stockholm.

Mannheimer Swartling’s team was led by Åke Kjellson and Isabella Ramsay (M&A) in co-operation with Thomas Wallinder and Emil Boström (Public M&A). Daniel Karlsson and Catharina Belfrage advised on bank financing matters. Other members of the team included, among others, Tom Wehtje, Anna Lundgren, Claudia Wallman, Kristina Börjevik Kovaniemi, Christian Hallberg and Adam Göransson, and Johan Carle and Sophie Ducaté with regard to competition issues.

Mannheimer Swartling regularly advises on matters in the health care and life sciences industry. With 20 years of experience providing transactional, capital markets and regulatory advice to national and international companies in the industry, the firm has an unprecedented position in this sector on the market. Members of the team advising Biovitrum in this transaction recently advised the sellers of Antula Healthcare and the firm was previously engaged as advisor to Pharmacia/Pfizer on the sale of businesses that later became Biovitrum, Active Biotech, Recip and Phadia. The firm was also recently involved as advisor to St. Jude Medical in the acquisition of Radi Medical Systems and frequently advises listed companies in the sector.