Tag Archives: BIIB

What Happened To Bioverativ Stock? A Short-Lived Spinoff Yielded Big Profit For Shareholders

From its spinoff from Biogen(BIIB) in February 2017 to the closing of its acquisition by Sanofi(SNY) in March 2018, Bioverativ’s tenure as a public company was short but profitable. From an initial price of $44.98 to the sale price of $105 in cash, Bioverativ stock, trading under the symbol BIVV, increased 133%. Not bad for 13 months.  We… Read More »

Struggling Perrigo Plans To Spin Off Or Sell Prescription Pharmaceuticals Business

Perrigo Company(PRGO) is another company with a spinoff heritage returning to our pages. Back in 2013, Perrigo acquired the Elan Corporation for $8.6 billion. Elan had completed its spinoff of Prothena(PRTA) in late 2012.  Perrigo subsequently sold the Tysabri royalty stream acquired with Elan to Royalty Pharma for up to $2.85 billion. Today, Perrigo’s market capitalization stands at… Read More »

Bioverativ(BIVV) To Be Acquired By Sanofi(SNY) At Huge 64% Premium

It was just one year ago when Biogen(BIIB) spun off hemophilia and blood disorder specialist Bioverativ(BIVV). With the stock trading in the 40s post-spin, we highlighted some disparate analyst opinions of the spin. The most bullish, Gabelli & Company, has a price target of $58 for Bioverativ stock.  This past Friday, Bioverativ stock closed at $64.11, above Gabelli’s… Read More »

Bioverativ(BIVV) Adds a Fifth Director, Reports Additional Positive Long Term Data On ALPROLIX

Following its spin off from Biogen(BIIB) in January, Bioverativ(BIVV) had merely four Directors- CEO John Cox and three independent Directors. This represented an unusually small Board for a company with a market cap of over $5 billion, and it was probably inevitable that the Board would grow. Last week, Bioverativ added a fifth director,  Anna Protopapas. Ms. Protopapas… Read More »

Bioverativ(BIVV) Proves Attractive To Former Valeant(VRX) Patron ValueAct Capital

Even before Biogen(BIIB) completed its spinoff of Bioverativ(BIVV), ValueAct Capital began buying “when-issued” stock in the new company. The hedge fund has continued to buy both stock and forward contracts and has now accumulated a 7.1% position in Bioverativ. The shares were purchased at between $40 and $45 per share. As Bioverativ stock has now risen above $50,… Read More »

Which Way Is Biogen(BIIB) Headed After Spinoff Of Bioverativ(BIVV)?

Last week, Biogen(BIIB) completed its spinoff of Bioverativ(BIVV). The Bioverativ spinoff included Biogen’s hemophilia assets and a $325 million pile of cash. What remains at Biogen is, depending on who you listen to, either poised for great growth, or struggling with it. Barrons reports on two analysts with positive views on Biogen: RBC Capital Markets analyst Michael Yee… Read More »

Gabelli & Co Call Bioverativ(BIVV) Stock A Buy With A Value Of $58, Morgan Stanley Disagrees

Bioverativ(BIVV), a drug company focused on hemophilia and other blood disorders, was spun off by Biogen(BIIB) last week. Gabelli & Co initiated Bivoerativ stock as a buy with a value of $58, citing the company’s strong balance sheet(no debt, $325 million in cash), its limited exposure to Medicare, its potential to benefit from corporate tax reform, and its… Read More »

After Completion Of Spinoff From Biogen(BIIB), Bioverativ(BIVV) Aims To Stop The Bleeding

On February 1, Biogen(BIIB) completed the spinoff of its Hemophilia business, Bioverativ(BIVV).  Biogen shareholders woke up on February 2 to find one share of Bioverativ in their portfolio for every two shares of Biogen that they had owned. Biogen has had a tumultuous year, with the departure of its longtime CEO George Scangos in January amidst stalling sales. Xconomy’s… Read More »

Bioverativ(BIVV), Varex(VREX) Spins And LogMeIn(LOGM)/Citrix(CTXS) Reverse Morris Trust Drive S&P Index Changes

As we near the end of the month, the completion of three spinoff transactions will be driving changes in various S&P Indexes. Citrix Systems(CTXS) will be spinning off its GetGo division which will then merge with LogMeIn(LOGM) in a reverse Morris Trust transaction. After the transaction is completed on January 31st, Citrix will remain in the S&P 500.… Read More »

Biogen(BIIB) Spinoff Bioverativ(BIVV) Begins Trading On A When Issued Basis

Biogen(BIIB) enters the final days before its spinoff of Bioverativ(BIVV), its global hemophilia business, as the new company begins when issued trading under the ticker BIVV. After the close of business on February 1, Biogen shareholders as of January 17 will receive one share of Bioverativ for every two shares they own.  The distribution is expected to be… Read More »

BioGen Updates Its Spinoff Plans

BioGen (BIIB) has finally chosen a name for its upcoming hemophilia drug focused spinoff. The new company will be called Bioverativ and it will eventually trade on the Nasdaq under the ticker ‘BIVV’. Bioverativ will be a global biotech company ‘focused on the discovery, research, development and commercialization of treatments for hemophilia and other blood disorders.’ It’s growing… Read More »

Baxalta Reportedly Finally Negotiating With Shire On Sale

Who says persistence doesn’t pay off? Months after having a buyout offer rejected and weeks after reports of its continued interest in a deal, Shire (SHPG) has reportedly gotten recent Baxter International (BAX) spinoff Baxalta (BXLT) to sit down at the table for a little M&A pow-wow. Apparently the two are making progress on a deal which would include… Read More »

Xconomy Profile Reveals More About Prothena, Stock Is Still Too Risky

Last month, Elan(ELN) spun off Prothena(PRTA). As we wrote at the time,  Elan gave Prothena $125 million in cash and a research team with no pipeline. Elan itself now consists mostly of Tysabri, a blockbuster drug on which it is partnered with Biogen Idec(BIIB). We have to admit, we knew very little about Prothena, so we were grateful… Read More »

Elan To Spin Off Drug Discovery Business, Neotope Biosciences, By Yearend

What do you do when your drug discovery costs swamp your profits from a successful marketed drug.  If you’re Elan Corporation(ELN), you spin off your drug discovery business with a bundle of cash, keeping your marketed drugs and late stage pipeline. Elan, an Irish biotech firm, is driven largely by Tysabri,a multiple sclerosis drug marketed with Biogen Idec(BIIB).… Read More »