Some longterm observers in the market note that while key players in hemophilia like Shire and Waltham, MA-based Bioverativ face big changes ahead, this is the kind of market where physicians and patients may be slow to switch from the drugs that have long stabilized their disease. The therapies are also commercialised in the European Union and other countries under a collaboration agreement. Canada Pension Plan Investment Board bought a new position in Bioverativ during the 3rd quarter worth $194,000. The Motley Fool recommends Biogen and Bioverativ. Shares (NASDAQ:BIVV) were trading at $104.29, up $40.18, or 62 percent. Meanwhile, the company's shares have increased 11% in the past year, underperforming the industry 's gain of 24% in the same time frame.
Sanofi has agreed to buy Bioverativ, a biopharmaceutical business focused on developing treatments for hemophilia and other rare blood disorders, for about $11.6 billion, the companies announced Monday.
Furthermore, Sanofi may run into competition concerns from regulators with the takeover, they said.
Bioverativ's two big products, Eloctate and Alprolix, are among the leading treatments for two of the most prevalent types of hemophilia, known as A and B. Bioverativ reported $291.6 million in revenue from the two drugs during the third quarter of 2017. In 2016, Bioverativ generated $847 million in sales and $41 million in royalties.
Sanofi said the move creates a platform for growth in other rare blood disorders.
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Sanofi is now developing its RNA-based therapy, fitusiran, for treating haemophilia. Danish drugmaker Novo Nordisk A/S this month made its largest takeover offer ever with an unsolicited 2.6 billion-euro (US$3.2 billion) bid for Belgium's Ablynx NV, which developed a potential blockbuster for a rare blood clotting disease.
Sanofi released information that said the sector has approximately $10 billion in sales annually, dealing with over 181,000 people worldwide.
The French company also maintains Bioverativ will add to its earnings per share in the current financial year, with up to five percent accretion in 2019.
Sanofi carries a Zacks Rank #3 (Hold). One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The business's quarterly revenue was up 27.2% compared to the same quarter past year. Famed investor Mark Cuban says it will produce "the world's first trillionaires", but that should still leave plenty of money for regular investors who make the right trades early. Today, you can download 7 Best Stocks for the Next 30 Days.