Bioverativ
| Company type | Subsidiary |
|---|---|
| Nasdaq: BIVV | |
| Industry | Biotechnology |
| Founded | 2016 (Spun off from Biogen) |
Key people | John G. Cox (CEO) [1] |
| Products | Alprolix, Eloctate |
Number of employees | 400[2] |
| Parent | Sanofi |
| Website | sanofi |
Bioverativ Inc. is an American multinational biotechnology company that specializes in the discovery, development, and delivery of therapies for the treatment of haemophilia.[3] Bioverativ competes with Baxalta (acquired by Shire Plc in 2016[4]), Pfizer and Novo Nordisk.[2] The company traded on the NASDAQ exchange under the ticker symbol BIVV until Sanofi completed its acquisition on March 8, 2018.
History
[edit]In May 2016 Biogen announced that it would spin off its hemophilia drug business (Eloctate and Alprolix) into a separate public company.[5] In August, Biogen announced they would call the spun off company Bioverativ to show heritage with Biogen,[6] and would be spun off in early 2017.[7] On December 22, the Securities and Exchange Commission approved Bioverativ's registration statement, with the official separation date of the two companies being pegged at February 2017.[8] In February, Biogen investors received a special dividend of one share of Bioverativ stock for every two shares of Biogen stock held as of January 17.[9] Bioverativ began trading on January 12, 2017.[10]
In May 2017, the company announced it would acquire True North Therapeutics for $825 million, strengthening Bioverativ's pipeline with the acquisition of TNT009 – a treatment for cold agglutinin disease.[11]
In January 2018, Sanofi announced that it would acquire the business, for $11.6 billion.[3][12]
Acquisition history
[edit]The following is an illustration of the company's major mergers and acquisitions and historical predecessors:
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Products
[edit]The company has two current products; Alprolix and Eloctate, both products provided combined revenues of $604 million in 2015, and $640 million in the first nine months of 2016 (contributing to ~6% of Biogens' total revenue.[10] These products are marketed in the United States, European Union, Japan, Canada and Australia.[3]
References
[edit]- ^ "Biogen Announces Additional Members of Management Team of Hemophilia Spin-off Company Bioverativ - Biogen Media". Archived from the original on 2016-12-29. Retrieved 2016-12-28.
- ^ a b "Biogen". SEC.gov. Retrieved 22 May 2024.
- ^ a b c "Sanofi Agrees to Buy Biovia for $11.6BN". Industry News. Pharma Technology Focus (67). Net Resources International. January 22, 2018.
- ^ Farrell, Sean (January 2016). "Shire clinches $32bn takeover of Baxalta". The Guardian.
- ^ D'Souza, Savio (May 3, 2016). "Biogen to spin off hemophilia drug business into a public company". Reuters. Retrieved May 3, 2016.
- ^ "Amid takeover chatter, Biogen introduces hemophilia spinoff Bioverativ - FiercePharma". Fierce Pharma. 10 August 2016.
- ^ "Biogen Announces Bioverativ as Name of New Hemophilia-Focused Company - Biogen Media". Archived from the original on 2016-08-13. Retrieved 2016-12-28.
- ^ "Biogen (BIIB) Approves Separation of Bioverativ (BIVV); Declares Special Dividend".
- ^ Cornell, Joe. "Biotech Giant Biogen To Spin-Off Bioverativ". Forbes.
- ^ a b "Coming soon to the Nasdaq: Biogen's hemophilia spinoff, Bioverativ - Boston Business Journal".
- ^ "Bioverativ to Acquire True North for up to $825M". 23 May 2017.
- ^ Hirschler, Ben; Kar-Gupta, Sudip; Erman, Michael (January 22, 2018). "Biotech M&A takes off as Sanofi and Celgene spend $20 billion". Reuters. Retrieved February 3, 2018.
- American companies established in 2016
- Companies formerly listed on the Nasdaq
- Multinational companies headquartered in the United States
- Biotechnology companies established in 2016
- Biotechnology companies of the United States
- Corporate spin-offs
- Sanofi
- 2018 mergers and acquisitions
- Pharmaceutical companies disestablished in 2018
- American subsidiaries of foreign companies