Aspreva Announces Preliminary Revenues for Third Quarter 2007



    VICTORIA, Oct. 16 /CNW/ - Aspreva Pharmaceuticals Corporation (NASDAQ:  
ASPV; TSX: ASV) today announced preliminary and unaudited net revenues of
approximately US $62 million for the third quarter of 2007 compared to
US $47.9 million revenue in the third quarter of 2006.
    As previously announced, Aspreva will release its full financial results
on Wednesday, October 31, 2007. The Company will hold a conference call and
webcast beginning at 2:00 p.m. Pacific Time (5 p.m. Eastern Time) to discuss
results and to provide a general corporate update.

    About Aspreva Pharmaceuticals

    Aspreva is a global pharmaceutical company focused on identifying,
developing, and, upon approval, commercializing evidence-based medicines for
patients living with less common diseases. Aspreva common stock is traded on
the NASDAQ Global Select Market under the trading symbol "ASPV" and on the
Toronto Stock Exchange under the trading symbol "ASV". Learn more at
www.aspreva.com.

    Conference Call

    Aspreva will host a conference call to discuss results for the third
quarter 2007 on Wednesday, October 31, 2007 at 2:00 p.m. Pacific Time (5:00
p.m. Eastern Time).

    Dial-in information:
    North America (toll free): 1-866-202-0886
    International: 1-617-213-8841
    Enter passcode: 14829169

    The call will be available for replay until Wednesday, November 7th, by
calling 1-888-286-8010 (North America) or 1-617-801-6888 (International) and
entering the pass code 79726236.
    A live webcast will also be available to all interested parties on
Aspreva's website: www.aspreva.com. Please click on the "Webcasts and Events"
link under the Investors section. A replay of the webcast will be available
until the Company's fourth quarter 2007 conference call.

    The revenue figures in this press release are preliminary and unaudited
and are not a complete disclosure of our quarterly financial results. Unless
otherwise specified, all amounts are in U.S. dollars and are reported under
U.S. GAAP.

    This news release contains forward-looking statements within the meaning
of the United States Private Securities Litigation Reform Act of 1995 and
forward-looking information within the meaning of applicable securities laws
in Canada (collectively, "forward-looking statements"). The words
"anticipates", "believes", "budgets", "could", "estimates", "expects",
"forecasts", "intends", "may", "might", "plans", "projects", "schedule",
"should", "will", "would" and similar expressions are often intended to
identify forward-looking statements, although not all forward-looking
statements contain these identifying words. The forward-looking statements in
this news release include, but are not limited to, statements concerning our
strategy, future operations, clinical trials, and prospects and plans of
management.
    Various estimates and assumptions were used in drawing the conclusions or
making the forecasts and projections contained in the forward-looking
statements in this news release. Certain risks, uncertainties and factors are
taken into account as part of our assumptions underlying the forward-looking
statements, including: our ability to successfully conduct our clinical trials
and studies; difficulties or delays in the progress, timing and results of
clinical trials and studies; difficulties or delays in obtaining regulatory
approvals; we may not be able to develop and obtain regulatory approval for
some of the products in our targeted indications; our ability to succeed at
establishing a successful commercialization program for any of our products;
the risk that we may not sustain our profitability; our ability to attract and
retain collaborations relating to the development and commercialization of new
indications; competition from other pharmaceutical or biotechnology companies;
our ability to raise additional financing required to fund further research
and development, clinical studies, and obtain regulatory approvals, on
commercially acceptable terms or at all; economic and capital market
conditions; our ability to obtain and protect patents and other intellectual
property rights; our ability to operate without infringing the intellectual
property rights of others; our ability to comply with applicable governmental
regulations and standards; currency exchange rates; and our ability to
successfully attract and retain skilled and experienced personnel.
    Although we have attempted to identify the important risks, uncertainties
and other factors that could cause actual results or events to differ
materially from those expressed or implied in the forward-looking statements,
there may be other factors that cause actual results or events to differ from
those expressed or implied in the forward-looking statements. For a more
thorough discussion of the risks associated with our business, see the "Risk
Factors" section in the Company's Quarterly Report on Form 10-Q for the
quarter ended June 30, 2007, filed with the U.S. Securities Exchange
Commission on EDGAR at www.sec.gov and on SEDAR at www.sedar.com. All
forward-looking statements are qualified in their entirety by this cautionary
statement and Aspreva undertakes no obligation to revise or update any
forward-looking statements as a result of new information, future events or
otherwise after the date hereof.

    %SEDAR: 00021534E




For further information:

For further information: Sage Baker, VP, Investor Relations & Corporate
Communications, Aspreva Pharmaceuticals, (250) 744-2488 ext. 84270,
sbaker@aspreva.com

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ASPREVA PHARMACEUTICALS

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