Swedish drugmaker for rare diseases Orphan Biovitrum receives takeover offer

Swedish Orphan Biovitrum (Sobi), a maker of drugs for rare diseases, today revealed that it had received a preliminary takeover proposal, the latest company involved in deal-making in the pharmaceutical industry.

Bloomberg yesterday reported that Sobi, which has been working with Goldman Sachs for some time as it prepares for potential approaches, has held on-and-off again talks with potential buyers since last year.''

''The board of Swedish Orphan Biovitrum AB (publ) notes the recent speculation in the press and elsewhere regarding a potential acquisition of the company,'' Sobi said in a release today.

''The board confirms that it has received a preliminary and conditional non-binding proposal in relation to a possible offer for all shares issued by the company.

''There can be no certainty that an offer will be made, nor as to the terms of any such offer. A further announcement will be made when appropriate,'' it added.

Sobi, which is 40 per cent held by Investor AB, the investment vehicle arm of Sweden's billionaire Wallenberg family, has a market cap of about 30.8 billion Swedish krona ($3.56 billion).

Stockholm-based Sobi is a specialty healthcare company making drugs for rare diseases like haemophilia, inflammation and genetic diseases.

It also markets a portfolio of specialty and rare disease products for other companies across Europe, the Middle East, North Africa and Russia.

Sobi's SEK 2.6 billion ($380 million) annual revenues derive from product sales, and from manufacturing of from ReFacto AF for Pfizer. (ReFacto AF is used to treat bleeding in patients with haemophilia A).