January 22, 2018 / 2:23 AM / 7 months ago

Sanofi set to buy Bioverativ for more than $11.5 billion: WSJ

(Reuters) - Sanofi SA is close to a deal to take over U.S. drug maker Bioverativ Inc for more than $11.5 billion, the Wall Street Journal reported, citing people familiar with the matter.

FILE PHOTO: French multinational pharmaceutical company SANOFI logo seen at their headquaters in Paris, France, March 8, 2016. REUTERS/Philippe Wojazer/File Photo

The potential deal, which could be announced as soon as Monday, would value Bioverativ at about $105 a share, the Journal reported. (on.wsj.com/2mYJulp)

The price represents a 64 percent premium to Bioverativ stock’s close on Friday on the Nasdaq.

Bioverativ, a hemophilia drug maker, was separated from Biogen Inc early last year.

Sanofi has failed to land major deals after losing California-based cancer specialist Medivation to Pfizer Inc in 2016 and Swiss biotech company Actelion to Johnson & Johnson last year.

Earlier this month, Sanofi said it obtained the right to develop and sell a new hemophilia drug in a restructuring of its partnership with Alnylam Pharmaceuticals.

Sanofi and Bioverativ were not immediately available for comment outside regular business hours.

Reporting by Shubham Kalia in Bengaluru; Editing by Paul Simao and Gopakumar Warrier

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