PARIS (Reuters) – French healthcare group Sanofi has agreed to buy U.S. peer Bioverativ for $11.6 billion, in a deal which Sanofi said would boost its earnings and strengthen its presence in the field of treatment for rare diseases.
Sanofi has agreed to buy all of the outstanding shares of Bioverativ for $105 per share in cash, marking a premium of 64 percent to Bioverativ’s closing price on January 19, 2018.
“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,” said Sanofi chief executive Olivier Brandicourt in a statement.
“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,” he added.
(Reporting by Sudip Kar-Gupta; Editing by Muralikumar Anantharaman)