Additional Relevant Details

• ­Galenica will commence a tender offer to acquire all issued and outstanding Relypsa common stock for a cash consideration of USD 32 per share
• Implied fully-diluted equity value of the offer amounts to approximately USD 1.53 billion
• Acquisition affirms commitment of Galenica Board of Directors to separate the Galenica Group into two independent listed companies, partly financed by equity proceeds to be raised in conjunction with the envisaged division of the Galenica Group in 2017
• Transaction brings Vifor Pharma a dedicated US commercial organisation and global rights to Veltassa, a potassium binder for the treatment of hyperkalaemia
• The Boards of Directors of both Relypsa and Galenica have approved the terms of the merger agreement, and the Board of Directors of Relypsa has resolved to recommend that shareholders accept the offer