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Sobi to acquire Dova for $915m to broaden hematology franchise

Published on 01/10/19 at 09:03am
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Sobi is to buy Dova Pharmaceuticals for $915 million in a bid to grow Sobi’s hematology portfolio, with liver cancer and low blood platelet medication Doptelet at the centre.

Doptelet remains on the lower end in terms of revenue, having launched in June 2018 and bringing in only $7.7 million last year and $3.5 million in the second quarter of 2019. Sobi believes the drug can fare better especially with the help of a new indication.

First approved to treat chronic liver disease in 2016, Doptelet also has an FDA approval for chronic immune thrombocytopenia (ITP) and is in Phase 3 testing for chemotherapy-induced thrombocytopenia (CIT), which currently has no FDA-approved treatments.

Guido Oelkers CEO and President at Sobi, said: “The cadence of upcoming launches and approvals across indications and regions that Doptelet provides, enables us to further accelerate growth in our haematology franchise.

“There is a large unmet medical need within thrombocytopenia and for us this is a great opportunity to be able to give patients access to new and improved treatments.

“Furthermore, we are excited to welcome the 125 professionals from Dova who will greatly strengthen Sobi’s haematology infrastructure and broaden our value chain in the US.”

The acquisition comes as Dova begins to compete with Novartis’ Promacta in ITP with a dramatic price cut in June. Dova has already slashed the price of Doptelet in a bid to increase competition and further its reach.

Given a projected market of $2 billion for thrombopoietin receptor agonist, reaching even half of the market would nearly double Sobi’s revenues from 2018 when it hit $918 million in global sales.

The deal is set to close at least by the end of the year.

Nik Kiran

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