sanofi buys us haemophilia treatment firm
Last Updated : GMT 12:45:25
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 12:45:25
Emiratesvoice, emirates voice

for $11.6 bn

Sanofi buys US haemophilia treatment firm

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Sanofi buys US haemophilia treatment firm

Sanofi
Paris - Emiratesvoice

French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion.

Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances its presence in specialty care and leadership in rare diseases... and creates a platform for growth in other rare blood disorders."

The purchase should also translate into a boost in profits per share beginning this year, rising to a gain of up to 5 percent in 2019, Sanofi said in a statement.

Bioverativ has latest-generation treatments for haemophilia, a disorder where blood does not clot properly to stop bleeding.

The haemophilia drugs market is "the largest market in rare diseases", worth around $10 billion per year and projected to grow by seven percent annually over the next five years, Brandicourt said in an audio conference with analysts.

He said he harboured a "strong admiration" for Bioverativ, which is a leader in the field with two drugs, Eloctate and Alprolix, already in the market and estimated overall sales of $1.2 billion in 2017.

Sanofi said it would be able to help Bioverativ with the research it has underway on the development of other haemophilia treatments, as well as for other rare diseases.

The agreement to purchase all of Bioverativ's outstanding shares for $105 each in cash represents a premium of 64 percent from the closing price on Friday, Sanofi said.

The operation is to start in February and close three months later, Brandicourt said.

But investors were not convinced, sending Sanofi's shares sharply lower on the Paris stock exchange as they wondered about the wisdom of putting so much money on the table.

The deal "looks logical, but expensive", with only modest potential to drive growth in the medium term, judged analysts at the Jefferies firm.

Furthermore, Sanofi may run into competition concerns from regulators with the takeover, they said.

The French firm said it would use funds on hand and borrow to finance the acquisition of Bioverativ.

But although pricey, the acquisition will still leave Sanofi with enough financial firepower to go after other acquisition targets, Jefferies said. One such target could be Pfizer's consumer healthcare business, they said.

The purchase of Bioverativ is the largest Sanofi has made since it acquired US biotech firm Genzyme for $20 billion in April 2011.

The French group failed in its 2016 bid to take over US cancer drugmaker Medivation which instead went to Pfizer.

Sanofi shares were 4.2 percent lower at 69.89 euros in late afternoon trading Monday, vastly underperforming the benchmark CAC 40 index in Paris which was up 0.2 percent.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

sanofi buys us haemophilia treatment firm sanofi buys us haemophilia treatment firm

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

sanofi buys us haemophilia treatment firm sanofi buys us haemophilia treatment firm

 



Emiratesvoice, emirates voice Skincare PR Performance Full Year 2017

GMT 08:36 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Emiratesvoice, emirates voice New hunt for flight MH370 gets under way

GMT 10:28 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Emiratesvoice, emirates voice Modern colorful bedroom renovation

GMT 12:12 2017 Thursday ,21 December

Modern colorful bedroom renovation
Emiratesvoice, emirates voice Five Saudi women pilots granted GACA licences

GMT 15:04 2018 Thursday ,30 August

Five Saudi women pilots granted GACA licences
Emiratesvoice, emirates voice Turkey detains dozens more

GMT 10:11 2018 Wednesday ,24 January

Turkey detains dozens more
Emiratesvoice, emirates voice The Rake announces editorial updates

GMT 12:47 2018 Tuesday ,16 January

The Rake announces editorial updates
Emiratesvoice, emirates voice Europe brings on charm and blue skies

GMT 06:02 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Emiratesvoice, emirates voice Sophisticated Classic Dining Room Design Ideas

GMT 12:15 2017 Monday ,18 December

Sophisticated Classic Dining Room Design Ideas
Emiratesvoice, emirates voice Arab Coalition Forces kill scores of Houthi commanders

GMT 12:46 2018 Thursday ,30 August

Arab Coalition Forces kill scores of Houthi commanders
Emiratesvoice, emirates voice Amazon to open first cashierless shop

GMT 05:18 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 16:17 2018 Thursday ,30 August

Five Saudi women pilots granted GACA licences

GMT 10:51 2018 Tuesday ,23 January

Saudi university to open driving school for women

GMT 11:03 2018 Tuesday ,23 January

No end to eyesores at Taj Mahal

GMT 17:26 2014 Friday ,03 January

Headmasters reveals 2014 Blow-Dry Collection

GMT 08:49 2012 Thursday ,23 August

Kendall Jenner cute on “Raine” cover

GMT 23:43 2012 Thursday ,11 October

Eva Mendes reveals beauty secrets

GMT 22:42 2016 Monday ,21 March

Art Dubai: calm and collected

GMT 02:09 2015 Saturday ,28 March

NASA: Russian spacecraft docks at ISS

GMT 17:30 2013 Saturday ,02 February

Khatib's dialogue waits for a positive response

GMT 12:17 2017 Thursday ,02 March

Rahi meets Patriarch Theodore II of Alexandria

GMT 18:33 2016 Friday ,26 August

Biden: Russian gas pipeline ‘bad’ for Europe

GMT 03:44 2013 Sunday ,21 April

Al Herba Al Hazeen

GMT 06:03 2018 Tuesday ,09 January

Explosion risk for oil tanker ablaze off China

GMT 14:27 2017 Thursday ,17 August

UAE Indian expats' Aadhar card woes

GMT 12:54 2017 Tuesday ,31 October

GEMINI (May22nd-June21st)

GMT 17:40 2017 Wednesday ,02 August

President issues federal decree to transfer

GMT 20:09 2017 Sunday ,26 November

Watch out for indirect VAT costs on property deals

GMT 06:17 2017 Monday ,20 March

Brazil detains officials in rotten meat probe

GMT 10:13 2017 Saturday ,01 July

Wide-open Wimbledon lacks women's favourite

GMT 20:10 2017 Saturday ,27 May

HM the King holds call with Egyptian president
Emiratesvoice, emirates voice
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice