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Stockholm, Sweden and Leiden, The Netherlands - April 15, 2010 - Swedish Orphan Biovitrum (STO: BVT) and Pharming Group NV (NYSE Euronext: PHARM) today announced an exclusive 10 year distribution agreement, under which Swedish Orphan Biovitrum will distribute Rhucin( )in 24 EU countries, Norway, Iceland and Switzerland.
Under the agreement, Swedish Orphan Biovitrum will pay to Pharming an undisclosed upfront payment and a regulatory approval milestone. In addition, Swedish Orphan Biovitrum will pay a supply price that will include tiered performance based royalties to Pharming. Swedish Orphan Biovitrum will also have the right to participate in the future development and distribution of Rhucin( )in the agreed countries for( )additional indications.
Rhucin() is a recombinant human C1 inhibitor for the acute treatment of Hereditary Angioedema (HAE) attacks. Pharming submitted an MAA for Rhucin() to the European Medicines Agency (EMA) in September 2009.
"Rhucin() is a novel medicine that offers great value to HAE patients. This …