January 22, 2018 / 8:43 AM / 9 months ago

BUZZ-Sanofi: Bioverativ deal raises questions - Kepler Cheuvreux

** Shares in Sanofi down c. 2.3 pct after it agreed to buy U.S. haemophilia specialist Bioverativ for $11.6 billion

** Kepler Cheuvreux says the deal “raises host of questions” and expects the market will be initially skeptical of the acquisition

** Brokerage says that although deal is earnings accretive (5% in 2019, according to Sanofi) and offers near-term growth, the longer-term picture is not so clear: how can Bioverativ’s pipeline offset pressure from Roche’s Hemlibra?

** Kepler Cheuvreux puts rating “Under Review”

** Stock is at bottom of France’s blue-chip CAC 40 index

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