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Bioverativ Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2017 10-K, filed Feb 14, 2018. Its latest SEC filing is a SC 13G/A from Apr 10, 2018.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Sells longer-lasting clotting-factor therapies for hemophilia A and B to specialty pharmacies, treatment centers and hospitals, and develops treatments for other rare blood diseases.

How Did They Make Money?

Bioverativ sells its hemophilia products to specialty pharmacies, treatment centers, hospitals and specialty distributors, with sales counted when delivery occurs. It also earns revenue from supplying products to Sobi and royalties on Sobi's sales.

FY2017 revenue

Who Were Their Customers?

Bioverativ uses its own sales force and distributes products through specialty pharmacies, treatment centers and hospitals, as well as independent distributors. It sells directly in Japan; Sobi commercializes products in its territory.

Did Revenues Turn Into Profits?

Yes. It kept 30 cents of every revenue dollar as net income in FY2017 and turned 49 cents into free cash flow.

Operating income, FY2017
38% of revenue
▲ +53% vs FY2016 ($292.4M, 33%)
Net income, FY2017
30% of revenue
▼ −19% vs FY2016 ($439.6M, 50%)
Free cash flow, FY2017
49% of revenue
▲ +97% vs FY2016 ($292.9M, 33%)

How Were They Changing?

Since the FY2017 annual report
  • Mar 8, 2018 Bioverativ became a Sanofi subsidiary The change in control followed the merger, and Bioverativ's shares ceased trading on Nasdaq.

Grew. Revenue grew 2.1x in 2 years, from $560.3M in FY2015 to $1.2B in FY2017, about 44% a year.

Who Did They Compete With?

Competes with Shire, CSL Behring, Genentech, Bayer, Novo Nordisk, Octapharma, Pfizer, Sobi, and Aptevo

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