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DOVA - Dova Pharmaceuticals Inc News Story

$28.04 0.0  0.0%

Last Trade - 11/11/19

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
    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)
 ((; +46 8 700 10 15; Reuters
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