Sanofi Acquisition of Bioverativ : Sanofi to buy US biotech company for $11.6bn
Pharma acquisition news : French pharma company Sanofi has struck a deal to acquire Bioverativ, a US biotech company for about $11.6 billion to grow its presence in specialty care and strengthen its position in rare diseases.
Sanofi Acquisition of Bioverativ
As per the press release on the Sanofi acquisition of Bioverativ, the French pharma company will acquire all of the outstanding shares of the US firm for $105 per share in an all-cash deal.
Based in Waltham, Massachusetts, Bioverativ focuses on developing therapies for hemophilia and other rare blood disorders. The US biotech company was formed through the separation of Biogen’s global hemophilia business in February 2017.
Sanofi acquisition of Bioverativ, which has been proposed to create a leading hemophilia portfolio, has been approved unanimously by the boards of directors of the two companies.
Business deal done. Photo courtesy of adamr at FreeDigitalPhotos.net.
Commenting on Sanofi acquisition of Bioverativ, Olivier Brandicourt – the CEO of Sanofi said: “With Bioverativ, a leader in the growing hemophilia market, Sanofi enhances its presence in specialty care and leadership in rare diseases, in line with its 2020 Roadmap, and creates a platform for growth in other rare blood disorders.
“Together, we have a great opportunity to bring innovative medicines to patients worldwide, building on Bioverativ’s success in driving new standards of care with its extended half-life factor replacement therapies.”
“Combined, we will continue to leverage our scientific know-how, disciplined focus and development expertise that best position us to drive value for our shareholders and create breakthrough treatments for patients.”
Hemophilia Assets of US Biotech Company Bioverativ
Bioverativ’s assets includes Eloctate [Antihemophilic Factor VIII (Recombinant), Fc Fusion Protein] and Alprolix [Coagulation Factor IX (Recombinant), Fc Fusion Protein], its extended half-life therapies for the treatment of hemophilia A and B, respectively.
Currently, Bioverativ markets Eloctate and Alprolix in the United States, Canada, Japan and Australia, and intends to take them into more geographies. Under a collaboration agreement, the Bioverativ hemophilia therapies are also commercialized in the European Union and other countries.
Bioverativ’s pipeline boasts of a cold agglutinin disease candidate in in phase 3 development along with early stage research programs and collaborations in hemophilia, and other rare blood diseases like sickle cell disease and beta thalassemia.
John Cox – CEO of Bioverativ, commenting on Sanofi acquisition of Bioverativ, said: “We have expanded upon the success of Eloctate and Alprolix, which are making a difference in the lives of people with hemophilia every day, and built a pipeline of novel programs for people with rare blood disorders.
“Sanofi brings proven capabilities and a global infrastructure, which we believe will help to more rapidly expand access to our medicines globally and further our mission of transforming the lives of people with rare blood disorders.”
Sanofi acquisition of Bioverativ is expected to be completed inside three months subject to the satisfaction or waiver of customary closing conditions. For more pharma acquisition news, keep following Business-News-Today.com.