Sobi to spend $915m to acquire Dova Pharmaceuticals

Sobi (a Swedish Orphan Biovitrum) is set to acquire Dova Pharmaceuticals on the conditions of a regulatory approval of its lead drug Doptelet in a new indication.

Sobi will offer a consideration of $29 per share, with an upfront consideration of $27.5  and an additional $1.50 with approval of Doptelet. This totals to a consideration of $915m.

Doptelet is a treatment for low platelet counts in patients with chronic liver disease who have to undergo a medical procedure. It has since been expanded to patients with chronic immune thrombocytopenia, who have not benefited from previous treatment. It is delivered over a five day course, that prepares patients to have a medical or dental procedure five to eight days after. This is Dova Pharmaceuticals first product to be approved by the FDA and it is the first drug to be approved by the FDA of this indication.

Dova Pharmaceuticals hope to snare Novartis’s market share with its treatment for Hepatitis C virus infection (CIT), Revolade. Dova says Doptelet has fewer liver-related side effects compared to its Novartis counterpart and if Dova receives approval for CIT, it will further spread into Revolades market.

This deal with Dova significantly enhances Sobi’s hematology franchise, as Sobi already has a market approved therapy for Haemophilia A and B. This acquisition will hopefully help Sobi to fend of competition from other market entrants from the likes of Hemibra from Roche.

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