Drug maker Sanofi swoops for biotech company in $11.6bn deal

French drug maker Sanofi, which has operations in the North West and Yorkshire, is to acquire biotechnology company Bioverativ for $11.6bn.

Sanofi and Bioverativ Inc., a biopharmaceutical company focused on therapies for hemophilia and other rare blood disorders, have agreed a deal which will see Sanofi acquire all of the outstanding shares of Bioverativ for $105 per share in cash.

Sanofi, which has offices in Holmes Chapel and in Sheffield, said the deal expands its presence in specialty care and strengthens its leadership in rare diseases and that adding a leader in the growing hemophilia market provides platform for expansion in 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,” said Olivier Brandicourt, Sanofi’s chief executive.

“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 chief executive John Cox said: “Bioverativ was created to bring meaningful progress to people living with hemophilia and other rare blood disorders, and I am extremely proud of the accomplishments we’ve made toward that mission over the past year.

“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.”

Click here to sign up to receive our new South West business news...
Close