A definitive acquisition agreement has been formed between Sanofi and biopharmaceutical company, Bioverativ, which will see Sanofi acquire all the outstanding shares of Bioverativ for an equity value of approximately $11.6 billion.
“With Bioverativ, a leader in the growing haemophilia 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,” commented Olivier Brandicourt, Sanofi’s chief executive officer. “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.”
“Bioverativ was created to bring meaningful progress to people living with haemophilia and other rare blood disorders, and I am extremely proud of the accomplishments we've made toward that mission over the past year,” noted Bioverativ chief executive officer, John Cox. “We have expanded upon the success of Eloctate and Alprolix, which are making a difference in the lives of people with haemophilia every day, and built a pipeline of novel programmes 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. Our chairman, Brian Posner, our entire Board and I strongly believed our spin-off would create meaningful value for shareholders, and this transaction delivers tremendous value for the shareholders who have invested in and supported our mission.”
Under the terms of the agreement, which was unanimously approved by both companies’ board of directors, Sanofi will start a tender offer for the acquisition of all outstanding Bioverativ common stock at $105 per share in cash.