Reported on Monday by the Wall Street Journal which cited people who are close to the matter, French drug maker Sanofi SA is closing a deal to take over Bioverativ Inc. for over $11.5 billion.
The potential deal values Bioverativ at around $105 a share according to the Journal. It is also 64% premium compared to the stock’s closing price this past Friday.
It was in 2017 that Bioverativ separated from biotech giant Biogen Inc. The company is a hemophilia drug maker.
Bioverativ, a hemophilia drug maker, was separated from Biogen Inc early last year.
This would be the biggest deal for Sanofi in seven years.
“The signs are good for biotech deal activity in 2018,” remarked Chris Stirling, the head of KPMG’s global life sciences practice.
It was also on Monday that Celgene announced it would be acquiring cancer specialist Juno Therapeutics.
Disclaimer: We have no position in Sanofi SA (ADR) (NYSE: SNY), (Bioverativ Inc. (NASDAQ: BIVV), Celgene Corporation (NASDAQ: CELG) nor Juno Therapeutics Inc. (NASDAQ: JUNO) and have not been compensated for this article.