Sanofi to acquire Bioverativ for $11.6B
In a move aimed at growing its positioning in the rare disease space, Sanofi will be acquiring biopharmaceutical company Bioverativ. The French drugmaker will pay $105 per share — roughly $11.6 billion — in cash for the Waltham, Mass.-based maker of treatments for hemophilia and other rare blood disorders.
“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,” Sanofi CEO Olivier Brandicourt said. “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.”
The hemophilia market is comprised of roughly $10 billion in annual sales with a patient population near 181,000, according to Evaluate Pharma. Bioverativ’s products Eloctate and Alprolix treat hemophilia A and B, respectively, generating $847 million in sales and $41 million in sales in 2016. Sanofi said that the method of treatment that Bioverativ’s products use, replacement therapy, will continue to be the standard in hemophilia care, and Bioverativ currently has a Phase 3 program testing a treatment for cold agglutinin disease, as well as other hemophilia research programs.
“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,” Bioverativ CEO John Cox said. “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.”
The move also is part of Sanofi’s 2020 roadmap, which the company said includes a reshaping of its portfolio to find treatment areas where it can establish itself as a leader. Sanofi said it expects the acquisition to be immediately accretive to its earnings per share in the 2018 fiscal year, as up to 5% accretive in FY2019.
“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,” Sanofi CEO Olivier Brandicourt said. “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.”
The hemophilia market is comprised of roughly $10 billion in annual sales with a patient population near 181,000, according to Evaluate Pharma. Bioverativ’s products Eloctate and Alprolix treat hemophilia A and B, respectively, generating $847 million in sales and $41 million in sales in 2016. Sanofi said that the method of treatment that Bioverativ’s products use, replacement therapy, will continue to be the standard in hemophilia care, and Bioverativ currently has a Phase 3 program testing a treatment for cold agglutinin disease, as well as other hemophilia research programs.
“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,” Bioverativ CEO John Cox said. “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.”
The move also is part of Sanofi’s 2020 roadmap, which the company said includes a reshaping of its portfolio to find treatment areas where it can establish itself as a leader. Sanofi said it expects the acquisition to be immediately accretive to its earnings per share in the 2018 fiscal year, as up to 5% accretive in FY2019.