Sanofi to buy biotech company for US $11.6 billion

Tanay Loya
/ Categories: Trending, Markets

French healthcare major Sanofi has agreed to acquire biotechnology company Bioverativ for US$11.6 billion. The company will buy all the outstanding shares of Bioverativ for US$105 per share in cash.

Sanofi expects the deal to boost its earnings and strengthen its presence in the field of treatment for rare diseases. Also, the company is expected to achieve a return on its invested capital (ROIC) in excess of the cost of capital within three years.

Sanofi is a global healthcare leader with diversified offering of medicines, consumer healthcare products, generics, animal health and human vaccines whereas Bioverativ is a leader in the growing hemophilia market and has success in driving new standards of care with its extended half-life factor replacement therapies.

At 13:00 hours, Sanofi India was trading at Rs. 4,700 per share, down Rs. 43.15 or 0.91 per cent on NSE. The scrip opened at Rs. 4,743 and touched a high of Rs. 4,791 and a low Rs. 4,684.05 per share on NSE. The stock is trading 5.6 per cent lower than its 52-week high of Rs. 4,980. The stock attracted a traded volume of 6,362 shares on NSE.


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