Bioverativ

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Bioverativ Inc.
Subsidiary
Traded as NASDAQ: BIVV
Industry Biotechnology
Founded 2016
(Spun off from Biogen)
Key people
John G. Cox (CEO)
[1]
Products Alprolix, Eloctate
Number of employees
400[2]
Parent Sanofi
Website bioverativ.com

Bioverativ Inc. is an American multinational biotechnology that specializes in the discovery, development, and delivery of therapies for the treatment of haemophilia.[3] Bioverativ competes with Baxalta (acquired by Shire Plc in 2016[4]), Pfizer and Novo Nordisk.[2] The company traded on the NASDAQ exchange under the ticker symbol BIVV until Sanofi completed its acquisition on March 8, 2018.

History[edit]

In May 2016 Biogen announced that it would spin off its hemophilia drug business (Eloctate and Alprolix) into a separate public company.[5] In August, Biogen announced they would call the spun off company Bioverativ to show heritage with Biogen,[6] and would be spun off in early 2017.[7] On December 22, the Securities and Exchange Commission approved Bioverativ's registration statement, with the official separation date of the two companies being pegged at February 2017.[8] In February, Biogen investors received a special dividend of one share of Bioverativ stock for every two shares of Biogen stock held as of January 17.[9] Bioverativ began trading on January 12, 2017.[10]

In May 2017, the company announced it would acquire True North Therapeutics for $825 million, strengthening Bioverativ's pipeline with the acquisition of TNT009 – a treatment for cold agglutinin disease.[11]

In January 2018, Sanofi announced that it would acquire the business, for $11.6 billion.[3][12]

Acquisition history[edit]

The following is an illustration of the company's major mergers and acquisitions and historical predecessors:

Bioverativ
 

True North Therapeutics
(Acq 2017)

 

Bioverativ
(Spun off 2016 from Biogen)

Products[edit]

The company has two current products; Alprolix and Eloctate, both products provided combined revenues of $604 million in 2015, and $640 million in the first nine months of 2016 (contributing to ~6% of Biogens' total revenue.[10] These products are marketed in the United States, European Union, Japan, Canada and Australia.[3]

References[edit]

  1. ^ "Biogen Announces Additional Members of Management Team of Hemophilia Spin-off Company Bioverativ - Biogen Media".
  2. ^ a b https://www.sec.gov/Archives/edgar/data/1681689/000104746916014936/a2229327zex-99_1.htm
  3. ^ a b c "Sanofi Agrees to Buy Biovia for $11.6BN". Industry News. Pharma Technology Focus. Net Resources International (67). January 22, 2018.
  4. ^ Farrell, Sean (January 2016). "Shire clinches $32bn takeover of Baxalta". The Guardian.
  5. ^ D'Souza, Savio (May 3, 2016). "Biogen to spin off hemophilia drug business into a public company". Reuters. Retrieved May 3, 2016.
  6. ^ "Amid takeover chatter, Biogen introduces hemophilia spinoff Bioverativ - FiercePharma".
  7. ^ "Biogen Announces Bioverativ as Name of New Hemophilia-Focused Company - Biogen Media".
  8. ^ http://www.streetinsider.com/Corporate+News/Biogen+(BIIB)+Approves+Separation+of+Bioverativ+(BIVV)%3B+Declares+Special+Dividend/12360649.html
  9. ^ Cornell, Joe. "Biotech Giant Biogen To Spin-Off Bioverativ".
  10. ^ a b http://www.bizjournals.com/boston/news/2016/12/26/coming-soon-to-the-nasdaq-biogens-hemophilia.html
  11. ^ http://www.genengnews.com/gen-news-highlights/bioverativ-to-acquire-true-north-for-up-to-825m/81254390
  12. ^ Hirschler, Ben; Kar-Gupta, Sudip; Erman, Michael (January 22, 2018). "Biotech M&A takes off as Sanofi and Celgene spend $20 billion". Reuters. Retrieved February 3, 2018.