Finance News

Bioverativ Reports Fourth Quarter and Full Year 2017 Performance

3.1 from 11 votes
Wednesday, February 14, 2018

WALTHAM, Mass. -Bioverativ Inc. (NASDAQ: BIVV) reported financial results for the fourth quarter and full year of 2017.

Key financial results include:

  • Fourth quarter 2017 revenues of $328.7 million, up 28.3% year-over-year
  • Fourth quarter 2017 revenues increased $37.1 million over third quarter 2017, up 12.7%
  • Fourth quarter 2017 GAAP net income of $141.3 million; Non-GAAP net income of $103.3 million
  • Full year 2017 GAAP tax rate of 21.3%; Non-GAAP tax rate of 34.3%

"We are proud of our accomplishments in 2017. We increased our market leadership position in the extended half-life market with our products ELOCTATE and ALPROLIX and grew revenue by 32% year-over-year. We built a robust clinical stage pipeline by advancing internal assets such as BIVV001 into a Phase 1/2a clinical trial, which is progressing with patients being dosed. We acquired True North Therapeutics and have initiated our Phase 3 registrational trials for BIVV009 in cold agglutinin disease," said John Cox, Chief Executive Officer of Bioverativ.

"As we look toward 2018 and our future, Sanofi brings proven capabilities and a global infrastructure, which we believe will help to rapidly expand access to our medicines globally and further our mission of transforming the lives of people with rare blood disorders. Since its inception, I strongly believed Bioverativ would create meaningful value for shareholders. Our transaction with Sanofi delivers tremendous value for those who have invested in and supported our mission," continued Mr. Cox.

Conference Call and Webcast
The company will not be conducting an earnings conference call for the fourth quarter and full year 2017.

About Bioverativ
Bioverativ (NASDAQ: BIVV) is a global biopharmaceutical company dedicated to transforming the lives of people with hemophilia and other rare blood disorders through world-class research, development and commercialization of innovative therapies. Launched in 2017 following separation from Biogen Inc., Bioverativ builds upon a strong heritage of scientific innovation and is committed to actively working with the blood disorders community. The company's mission is to create progress for patients where they need it most and its hemophilia therapies when launched represented the first major advancements in hemophilia treatment in more than two decades.

Bioverativ Inc.
Sam Chase
Phone: +1 781-663-9277

Source: Bioverativ Inc.
3.1 from 11 votes
Free Newsletter
Trending News
by Abidemi Uruejoma
by Abidemi Uruejoma
by Abidemi Uruejoma