Ferring acquires Savient Pharmaceuticals, Inc’s global biologics manufacturing business
Lausanne, Switzerland – July 19, 2005 –
Ferring B.V. and Ferring International Centre SA announced today that they have completed the purchase of BTG (Biotechnology General), the global biologics manufacturing business of Savient Pharmaceuticals, Inc. (NASDAQ:SVNT).
“This acquisition is in keeping with our corporate strategy of niche marketing specialty products with manageable physician prescribing audiences,” commented Michel Pettigrew, Ferring’s Chief Operating Officer. “In particular, we will gain the global rights to market EUFLEXXA®, a novel hyaluronic acid product for the amelioration of knee pain due to osteoarthritis. Importantly, EUFLEXXA represents an additional specialty marketing opportunity that expands our US product line beyond infertility.”
Savient’s global biologics business features a diverse portfolio of products including EUFLEXXA, BioLon a hyaluronic acid product for use in ophthalmic surgery and Bio-Tropin a human growth hormone product (marketed as TevTropin by Teva in the United States, as Growject by JCR in Japan, as SciTropin by SciGen in the Pacific Rim region and as ZOMACTON by Ferring in Europe) for the treatment of growth hormone deficient children.
In addition, the deal includes the acquisition of BTG’s modern, purpose-built biotech manufacturing facility at Be’er Tuvia, Israel.
With the completion of this deal Ferring and Savient have also entered a co-promotion agreement for EUFLEXXA in the United States and the companies anticipate launching the product during the final quarter of this year.
About Ferring Pharmaceuticals
Ferring is a Swiss-based research driven, speciality biopharmaceutical group active in global markets. The company identifies, develops and markets innovative products in the areas of endocrinology, gastroenterology, gynaecology, infertility and urology.
In recent years Ferring has expanded beyond its traditional European base and now has operating subsidiaries in over 40 countries.
To learn more about Ferring or our products please visit us at www.ferring.com.