STOCKHOLM, Sweden, Jan. 26, 2004 (PRIMEZONE) -- Biovitrum has signed an agreement with Wyeth (NYSE: WYE) to be the sole supplier of its recombinant factor VIII drug ReFacto(R), for the treatment of hemophilia.
"This is a very important deal for us. Wyeth has chosen Biovitrum as their partner based on our prior experience manufacturing ReFacto and our expert knowledge and capabilities in commercial manufacturing and process development of biopharmaceutical products," said Hans Orstrom, Senior Vice President, Biovitrum Biopharmaceuticals.
ReFacto was originally developed by Biovitrum's organization while this was part of Pharmacia. The drug was sold to Wyeth in 1997, and is now marketed in the U.S. as well as Europe. Global ReFacto sales reached $224 million in 2003.
Apart from contract production, ReFacto also generates revenues for Biovitrum through royalties and co-promotion rights in the Middle East and Nordic regions. About 60 Biovitrum employees are part of the manufacturing operations of ReFacto.
The Stockholm-based biotechnology company is among the pioneers of protein-based pharmaceuticals. As part of the former Kabivitrum, Biovitrum's researchers were involved with the development of recombinant growth hormone in the early 1980s. Since then, the group has developed several processes for clinical materials and for the commercial production of recombinant protein-based pharmaceuticals, including ReFacto.
Biovitrum Biopharmaceuticals' other customers include Amgen and Pfizer.
Biovitrum enquiries: Mikael Widell, SVP Communications Biovitrum AB Tel +46 8 697 20 85 Mobile +46 70 311 99 60 Mikael.widell@biovitrum.com
Notes to editors:
About Biovitrum
Biovitrum is a privately held biotech company active in process development and contract manufacturing of protein therapeutics, and in the discovery and development of drugs to treat metabolic diseases, such as type 2 diabetes and obesity. The company has a strong intellectual property and technology platform, with a number of compounds in pre- clinical and clinical development. Biovitrum is one of the largest biotech companies in Europe with more than 550 employees. Annual revenues, including royalties and contract service fees, finance the major part of the research budget. For more information, please visit Biovitrum's website at www.biovitrum.com.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2004/01/26/20040123BIT00760/wkr0001.doc
http://www.waymaker.net/bitonline/2004/01/26/20040123BIT00760/wkr0002.pdf