Sanofi Offers $11.6 Billion For Bioverativ
France's Sanofi atlast seems to have find biotech company with an offer of $11.6 Billion for Massachusetts-based Bioverativ Inc. Sanofi SA has been already under-pressure due to falling profits of diabetes treatments. This deal will give Sanofi an entrance to growing hemophilia market.
Bioverativ is a leader in the emophilia market. Among rare diseases hemophilia sales market is valued at approximately $10 billion per annum and it is expected to grow at about 7% a year through to 2022. These stats clearly show how big potential this sales market has and what Sanofi is looking for with this deal.
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Sanofi, which already failed in two deals recently with Actelion Pharmaceuticals and Medivation Inc. offered $105 per share in cash at 64% premium to Bioverativ's closing price on Friday, Jan. 19. This offer is yet to be approved by majority of Bioverativ shareholders and if it gets approved in February then this deal will be completed within three months.
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