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16 October 2007

Aspreva Acquired by Galenica for US$915 Million

Victoria, B.C. Canada, October 17, 2007 Aspreva Pharmaceuticals Corporation (NASDAQ: ASPV; TSX: ASV) today announced that it has entered into a combination agreement with Galenica Group (SWX: GALN) under which Galenica, through a wholly-owned Canadian subsidiary, will acquire all of Aspreva’s outstanding shares at a price of US $26.00 per share in cash. The total value of the transaction is approximately US $915 million. This all-cash transaction for 100 per cent of the company’s shares represents a 16 per cent premium over Aspreva’s closing price on October 16th, 2007 and a 24 per cent premium over the 30-day average trading price of Aspreva shares. Aspreva will host a conference call on October 18th, 2007, at 10:00 a.m. PT/ 1:00 p.m. ET to discuss the proposed acquisition. Farris lawyers have represented Aspreva as its corporate counsel since inception, led by Hector MacKay-Dunn, Q.C., and included solicitors Trevor Scott, Peter Roth, Denise Nawata, and Bo Rothstein. Senior partner, Hector MacKay-Dunn, said today, “It has been an honour to have represented Aspreva over the years and we are delighted with their success. From incorporating Aspreva in 2002, raising private equity of more than CAD $76 million in 2004, their CAD $113 million IPO in 2005, to today being acquired for US $915 million is quite remarkable and a testament to the people at Aspreva and now Galenica.” For the News Release, please click here.

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