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The "Squawk on the Street" crew discusses Celgene's $9 billion cash deal for Juno Therapeutics and Sanofi's $11.6 billion bid for Massachusetts-based Bioverativ.
HONG KONG (AP) — Asian stock markets posted strong gains on Tuesday, as an upbeat forecast for global economic growth and the end of the U.S. government shutdown helped lift sentiment.
Celgene and Sanofi are the latest big drugmakers willing to pay heft premiums for acquisitions amid an increasingly scarce roster of companies with promising products.
Celgene will buy Juno Therapeutics for $9 billion and French pharma Sanofi will pay $11.6 billion for Bioverativ.
Celgene will acquire Juno Therapeutics for $9 billion. Sanofi reached a deal Monday to buy hemophilia drugmaker Bioverativ for $11.6 billion, or $105 a share.
Stocks hit fresh records on Monday after a deal is reached to end the three-day government shutdown.
Bioverativ Inc (NASDAQ:BIVV), spun out of Biogen Inc. (NASDAQ:BIIB) less than a year ago, drew an $11.6 billion bid from Sanofi SA (ADR) (NYSE:SNY) on Jan. 22, a 64% premium over its closing price on Jan. 19. The bid, $105 per share, could be just the start of a shopping bonanza as big pharma companies seek to grow their drug pipelines through acquisitions of smaller biotech companies.
Novartis’s (NVS) Innovative Medicines segment includes cardio-metabolic products, oncology products, immunology and dermatology products, respiratory products, neuroscience products, and established products. The segment’s contribution is ~67% of NVS’s total revenues.
The acquisitions will fuel expectations for a busy year of mergers and acquisitions (M&A) as large drugmakers snap up promising assets from smaller rivals to help revive growth. Sanofi agreed to buy U.S. haemophilia expert Bioverativ for $11.6 billion, its biggest deal for seven years, while Celgene is paying about $9 billion for the 90 percent of cancer specialist Juno Therapeutics it does not already own.
The acquisitions will fuel expectations for a busy year of mergers and acquisitions (M&A) as large drugmakers snap up promising assets from smaller rivals to help revive growth. Sanofi agreed to buy U.S. hemophilia expert Bioverativ for $11.6 billion, its biggest deal for seven years, while Celgene is paying about $9 billion for the 90 percent of cancer specialist Juno Therapeutics it does not already own.
Sanofi is placing a big bet on the $10 billion-a-year haemophilia market at a testing time, as scientific advances overhaul traditional approaches to treating the rare uncontrolled bleeding disorder. The French drugmaker's decision to buy U.S. haemophilia specialist Bioverativ for $11.6 billion exposes it to competition from Roche's new drug Hemlibra and looming threats from gene therapy. It also offers a potential launchpad for Sanofi's own experimental medicine fitusiran.
French healthcare group Sanofi (SASY.PA) has agreed to buy U.S. haemophilia specialist Bioverativ (BIVV.O) for $11.6 billion(8.34 billion pounds), its biggest deal for seven years and a major play to strengthen its presence in treatments for rare diseases. Several analysts said the deal looked expensive, given uncertainties in the haemophilia market due to the arrival of new drug treatments, and Sanofi shares fell 4 percent on Monday, the worst performance on France's benchmark CAC-40 index. The move comes at a time of renewed interest by large drugmakers in smaller biotech firms, with Celgene (CELG.O) also announcing a $9 billion deal to buy Juno Therapeutics (JUNO.O), and predictions by some experts that 2018 will see a substantial pick-up in mergers and acquisitions.
The new year’s health-care deals began to snowball as Sanofi and Celgene Corp. scooped up assets that promise to offset pricing pressure for some of their top-selling drugs.
Stocks turn higher on Monday, as investors watch for the impact of a federal government shutdown that entered its third day.
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Bioverativ Inc. (BIVV) ("Bioverativ ") breached their fiduciary duties in connection with the proposed sale of the Company to Sanofi (SNY). On January 22, 2018, Bioverativ announced that it had signed a definitive merger agreement with Sanofi.
PARIS (AP) — France-based drugmaker Sanofi is buying U.S. hemophilia specialist Bioverativ for $11.6 billion in a deal that Sanofi says will boost its profile for fighting rare diseases.