A huge deal is underway as Sanofi looks to acquire Bioverativ for $11.6 billion with hope to enhance and strength their rare disease presence, reports Genetic Engineering & Biotechnology News. Bioverativ has made noise over the last year developing strong therapies for hemophilia, as well as blood diseases. They have only been around for a year, but they have dominated during that time.
Bioverativ brought in sales of $847 million, as well as an additional $41 just from 2016 marked drug royalties on Eloctate and Alprolix for hemophilia. The company now markets these two drugs in the United States, Canada, Japan and Australia. They look to continue commercialization to other countries in Europe.
Sanofi is thrilled with the future of bringing in Bioverativ. They believe they’ve confidently shown great success in the hemophilia world and they hope to leverage their clinical expertise and commercialization. Sanofi also garnered commercialization and international development rights to fitusiran when they struct a partnership with Alnylam Pharmaceuticals. Having this alliance in 2014 has contributed to their continued success over time.
Beyond the two hemophilia treatments developed by Bioverativ, they’ve also reached Phase 3 testing for agglutinin disease treatment and reached heights for other blood disorders, which include beta thalassemia and sickle cell disease.
With this acquisition, Sanofi plans to take Bioverativ’s beginning staged candidates and push them through their R&D organization that will help the company capitalize on their potential, and hopefully reach results faster to eventually release treatment medications sooner.
Through term agreements, Sanofi would eventually like to acquire all the outstanding Bioverativ stock shares at $105 per share. This is a 64% premium to what the closing price ending up being this month. This “tender” offer will be revisited in February upon the initial offer terms being met.
For now, while the terms and tender offers get finalized, we at least can be sure that this acquisition is strong, and will lead to great potential for the rare disease community.