Deals
Sanofi to Buy Biogen Hemophilia Spinoff for $11.6 Billion
- Bioverativ deal is valued at 64% premium to Friday’s close
- French drugmaker seeks growth drivers to offset diabetes drop
Sanofi to Buy Bioverative for $11.6B
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Sanofi SA agreed to buy Bioverativ Inc., a spinoff from biotech giant Biogen Inc., for about $11.6 billion in a bid by France’s biggest drugmaker to gain treatments for rare blood disorders.
The deal values hemophilia drugmaker Bioverativ at $105 a share, according to a statement Monday from Sanofi. That’s a 64 percent premium over Friday’s closing price. Sanofi shares fell 2.6 percent to 71.05 euros at 9:18 a.m. in Paris trading.