Biogen Inc. has announced the completion on February 1, 2017 of the separation of its global hemophilia business.
The new company, known as Bioverativ, is an independent, publicly traded global biotechnology company focused on hemophilia and other rare blood disorders. Bioverativ common stock will begin “regular way” trading on Thursday, February 2, 2017, under the symbol “BIVV” on the NASDAQ Global Select Market.
On December 20, 2016, Biogen announced that its board of directors approved the separation of Biogen and Bioverativ, and declared a special dividend distribution of one share of Bioverativ common stock for every two shares of Biogen common stock held as of the close of business on January 17, 2017, the record date for the distribution.
As previously announced, Biogen’s common stock trades on the NASDAQ Global Select Market in the “regular way” under the symbol “BIIB” and in the “ex-distribution” market under the symbol “BIIBV.” Biogen stockholders who have sold their shares of Biogen common stock in the regular way market after January 17, 2017, the record date for the distribution, and on or prior to February 1, 2017, will have sold their right to receive shares of Bioverativ common stock in the distribution. Shares of Biogen common stock in the “ex-distribution” market trade without the right to receive shares of Bioverativ common stock in the distribution.