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), 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 »
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 »
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 »