Biogen board approves spin-off of hemophilia business

21 December 2016

The board of directors of US biotech Biogen (Nasdaq: BIIB) has approved the spin-off of its hemophilia business, which will be known as Bioverativ Inc.

A special dividend distribution of all of the outstanding shares of Bioverativ common stock has also been declared so that for every two Biogen shares held on January 17, shareholders will receive one share in the new company. Registered shareholders will receive cash in lieu of fractional shares.

The distribution of Bioverativ common stock will complete the proposed separation of the hemophilia business from Biogen, plans for which were first revealed in May after being discussed for some time.

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