Biovitrum Interim Report January 1 - June 30, 2008

A busy half-year with focus on specialist care pharmaceuticals and
restructuring of R&D

April - June

* Net revenues amounted to SEK 287.9 M (404.2). The profit for the
  quarter, before restructuring costs, was SEK 23.4 M (59.8). After
  restructuring costs the result was SEK -96.6 M (59.8),
  corresponding to earnings per share of SEK -2.12 (1.31).

* Cash flow from operations was SEK -75.6 M (-16.4). Cash and cash
  equivalents and short-term investments as of June 30 amounted to
  SEK 635.6 M (876.8)

* Revenues from ReFacto® amounted to SEK 203.9 M (310.2) in the
  second quarter. Revenues from other products increased by 18
  percent to SEK 25.1 M (21.3).

* Biovitrum implemented the strategic restructuring of the research
  organization as announced. The profit was charged with a one-off
  restructuring cost of SEK 120 M. Of this amount, SEK 68 M relates
  to costs associated with staff cuts. Other costs consist of
  write-downs of fixed assets. Savings in fixed R&D expenses are
  estimated to approx. SEK 115 M on a rolling twelve months basis.

* Strong advancement of the clinical portfolio

-       The first patients were recruited for a clinical phase II
study of Kiobrina(TM), resulting in a milestone payment.

-       In preparation of the clinical phase III clinical within
Anti-RhD prophylaxis, a second clinical study was initiated to show
that Sym001 eliminates RhD positive red blood cells from the
circulation of RhD negative healthy men.

-       A clinical phase I/II study started in the US of a new
long-acting factor IXFc protein with the potential to substantially
improve treatment of hemophilia B patients.

-       A clinical phase II study of Sym001 was initiated to study
safety, efficacy and dosage in patients with idiopathic
thrombocytopenia purpura (ITP).

* The results from the clinical phase II study within the A2A project
  were reported and showed that the candidate drug was very safe and
  provided a positive therapeutic effect that increases over time in
  patients with neuropathic pain.

* Mimpara® was the first treatment to be approved by the European
  Commission for the treatment of primary hyperparathyroidism (PHPT).
  Biovitrum will market Mimpara® in the Nordic Region.

* In line with its strategy to focus on specialist care
  pharmaceuticals, Biovitrum has decided to return the DPP-IV project
  to the Swiss company Santhera A/G from which the project was
  licensed. This resulted in a write-down of fixed assets.

* The outlook for 2008 remains unchanged.

January - June

* Net revenues amounted to SEK 532.1 M (757.1). The result for the
  first half-year before restructuring costs was SEK 21.3 M (103.9).
  Result after restructuring costs was SEK -98.7 M (103.9),
  corresponding to earnings per share of SEK -2.16 (2.28).

* The cash flow from operations was SEK -98.5 M (31.6).

CEO's Comments:"It has been an intense and eventful first half year with focus on
delivery of our strategy. We are especially satisfied that we have
initiated four clinical phase II programs in our specialist care
projects. The ReFacto® revenues were lower than the first half year
2007. As previously communicated, this is due to quarterly
fluctuations in deliveries of ReFacto® protein to Wyeth as well as
revenue in 2007 in the form of a one-off payment for validation
batches of the new ReFacto®. We have reason to expect a slightly
stronger second half year. Sales of ReFacto® in the Nordic market are
doing very well and increased by 14 percent during the period. Sales
of other products are also growing and increased by 18 percent," says
Biovitrum's CEO Martin Nicklasson and continues: "The key to success
is our focus on specialist pharmaceuticals. There are good reasons
for a company such as ours to concentrate its resources on products
that target small patient groups with great medical needs. The
competence, size and flexibility of our R&D organization make us
well-equipped to efficiently deliver current and future specialist
care pharmaceutical projects all the way to the market."


For more information please contact:

Biovitrum AB (publ)
Martin Nicklasson, CEO
Phone: +46 8 697 20 00
[email protected]

Göran Arvidson, CFO
Phone: +46 8 697 23 68
[email protected]



About Biovitrum
Biovitrum is a specialty pharmaceutical company with operations in
Sweden and in the UK. Biovitrum markets a range of specialist
pharmaceuticals primarily in the Nordic countries. The company has a
research portfolio with several projects in clinical and preclinical
phases for a number of well defined specialist indications. Biovitrum
has the expertise and experience to take its projects all the way to
the market. Biovitrum develops and produces protein-based drugs and
also has small molecule research expertise and capabilities.
Biovitrum has revenues of approximately SEK 1.2 billion and around
500 employees. Biovitrum's share is listed on the OMX Nordic Exchange
in Stockholm. For more information see www.biovitrum.com