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 | edit source]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 | edit source]The following is an illustration of the company's major mergers and acquisitions and historical predecessors:
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Products
[edit | edit source]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
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- 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