Sanofi nears $11.4 billion deal for Bioverativ: source

View of the company logo at the general shareholders meeting of Sanofi on May 4, 2016.

Vincent Isore | IP3 | Getty Images

View of the company logo at the general shareholders meeting of Sanofi on May 4, 2016.

French drugmaker Sanofi will be close to acquiring biotechnology company Bioverativ for $105 a share, valuing the maker of hemophilia drugs at about $11.4 billion, according to a person familiar with the matter.

The deal could be announced as soon as Monday morning brand-new York time, according to the person, who declined to be named because the agreement hadn’t been finalized by late Sunday. The Wall Street Journal first reported the news Sunday evening.

The offer represents a premium of 63 percent to Bioverativ’s Friday closing cost along with might be all cash.

Bioverativ will be a spin-out of biotech giant Biogen, along with drew $274.8 million in third-quarter revenue via its two products for hemophilia. that will was up 27 percent via the prior year’s quarter, though the franchise faces increasing competition via Roche, along with, further down the line, via one-time gene therapy approaches being pursued by BioMarin, Spark Therapeutics along with others.

Sanofi, based in Paris, had been at the table of two of the largest biotech deals in recent years, although had come up empty-handed: Johnson & Johnson’s purchase of Actelion for $30 billion in January 2017, along with Pfizer’s acquisition of Medivation for $14 billion in August 2016.

Representatives via Sanofi along with BioVerativ didn’t immediately respond to requests for comment on Sunday night.

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