Sanofi SA close to acquiring Bioverativ Inc for more than $11.5 billion

France-based pharmaceutical giant, Sanofi SA needs to clinch this deal.The MNC has also obtained the rights to develop and sell a new hemophilia drug in a strategic restructuring of its partnership with Alnylam Pharmaceuticals.

As per a report by the Wall Street Journal citing sources familiar with the matter, Sanofi SA is close clinching a deal to acquire U.S. drug maker Bioverativ Inc for more than $11.5 billion.

The potential deal which could be made official later today values Bioverativ at about $105 a share, representing a premium of 64% to its stock’s closing price on Friday on Nasdaq.

In early 2017, Biogen Inc spun-off its hemophilia drug business into a separate company – Bioverativ.

Incidentally, Sanofi has failed to land any major deals after losing Medivation, a California-based cancer specialist, to Pfizer Inc in 2016; it also lost out Actelion, a Swiss biotech company to Johnson & Johnson in 2017.

However, earlier this month, Sanofi has managed to obtain the rights to develop and sell a new hemophilia drug in a strategic restructuring of its partnership with Alnylam Pharmaceuticals.

Neither Bioverativ nor Sanofi were immediately available for comment outside regular business hours.

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