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news.French drugmaker Sanofi has agreed to acquire US-based biotechnology firm Bioverativ for about $11.6bn.
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Bioverativ, which is a spin-off from biotech firm Biogen, focuses on therapies for hemophilia and other rare blood disorders.
As per the merger deal terms, Sanofi will start a tender offer to buy all the outstanding shares of Bioverativ for $105 per share.
Currently, Bioverativ markets Eloctate [Antihemophilic Factor VIII (Recombinant), Fc Fusion Protein] and Alprolix [Coagulation Factor IX (Recombinant), Fc Fusion Protein], its two hemophilia products in the US, Japan, Canada and Australia.
It intends to market the two extended half-life therapies into additional geographies.
While Eloctate is used as treatment for hemophilia A, Alprolix is indicated to treat hemophilia B.
The two therapies are also commercialized by Bioverativ in the European Union and other countries as per a collaboration agreement.
Sanofi CEO Olivier Brandicourt said: “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.”
The transaction allows Sanofi to tap into the clinical expertise and existing commercial platform of Bioverativ to advance its investigational RNA interference (RNAi), fitusiran for the treatment of hemophilia A and B, with or without inhibitors.
In addition to the two marketed hemophilia products, Bioverativ is developing a drug for cold agglutinin disease, currently in phase 3 testing.
The company’s pipeline also has early stage research programs and partnerships in hemophilia, and other rare blood disorders such as sickle cell disease and beta thalassemia.
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 transaction, which has been approved unanimously by the boards of directors of both the firms, is expected to be closed within three months subject to customary closing conditions.
Image: Sanofi headquarters in Paris, France. Photo: courtesy of Sanofi.
