Dova Pharmaceuticals Inc logo

DOVA - Dova Pharmaceuticals Inc News Story

$28.04 0.0  0.0%

Last Trade - 11/11/19

Sector
Healthcare
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £10.0m
Position in Universe th / 6827

Sobi to buy Dova Pharmaceuticals to broaden portfolio, boost U.S. presence

Mon 30th September, 2019 7:59am
STOCKHOLM, Sept 30 (Reuters) - Rare diseases specialist
Swedish Orphan Biovitrum (Sobi)  SOBIV.ST  said it had agreed to
buy Dova Pharmaceuticals in a deal valuing the U.S. firm at up
to $915 million.
    The Swedish drugmaker said it was offering $27.50 per share
in cash and the right to an additional $1.50 upon approval of
Doptelet for use in chemotherapy-induced thrombocytopenia by the
U.S. Food and Drug Administration (FDA). 
    The upfront cash component represents a premium of 36% to
Dova's most recent closing price of $20.19, Sobi added. 
    Sobi, a rival to Roche  ROG.S , Novo Nordisk  NOVOb.CO  and
Shire  SHP.L , said the acquisition will broaden the scope of
its portfolio into haematology and enhance the company's
commercial presence in the United States.
    Shareholders owning a majority of Dova's outstanding shares
have agreed to the offer, Sobi said in a statement on Monday,
adding the transaction was expected to close in the fourth
quarter.
    Doptelet is used in the treatment of thrombocytopenia - a
condition characterized by abnormally low levels of platelets -
by increasing platelet count.

 (Reporting by Helena Soderpalm; Editing by Himani Sarkar)
 ((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters
Messaging: helena.soderpalm.reuters.com@reuters.net))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.