Sanofi to Buy US Hemophilia Specialist Bioverativ In $11.6B Deal
The French drugmaker has now confirmed the $11.6 billion buyout of US Hemophilia Specialist Bioverativ. In the deal, a statement release from Sanofi read, “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 rare blood disorders.”
Sanofi will be acquiring all of the outstanding shares of Bioverativ for $105 per share in cash, representing an equity value of approximately $11.6 billion (on a fully diluted basis). The transaction was unanimously approved by both the Sanofi and Bioverativ Boards of Directors.
Paris-based Sanofi has
spent more than two years looking for a major biotech deal to boost its portfolio of treatments and replace declining sales and profits from former blockbuster diabetes treatments. Sanofi tried to buy cancer specialist Medivation in 2016 but was outbid by Pfizer’s $14bn counter-offer. The French drugmaker also lost out in a bidding war for Actelion, the Swiss biotech group, which eventually sold itself to Johnson & Johnson last year for $30bn.Bioverativ, which makes drugs for haemophilia, was spun out of Biogen, the large biotech group, which wanted to focus on medicines for neurological disorders such as multiple sclerosis and Alzheimer’s.
“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,” Sanofi CEO Olivier Brandicourt said in a statement. “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.”
