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Biogen approves distribution of Bioverativ spinoff stock

Biogen Inc., which in May announced plans to spin off its hemophilia drug business as a separate company, said Tuesday that Biogen shareholders will receive one share of the new company — to be called Bioverativ Inc. — for every two shares of Biogen they own. The special dividend distribution will be paid on Feb. 1.

The stock distribution is the final step of the Bioverativ spinout. The Cambridge biotech — whose core business is selling drugs to treat multiple sclerosis and other neurological diseases — won’t have an ownership stake in Bioverativ. The new company will be independent, trading on the Nasdaq exchange under the symbol BIVV.


Robert Weisman can be reached at robert.weisman@globe.com. Follow him on Twitter @GlobeRobW.

Correction: An earlier version of this story incorrectly described the special dividend distribution plans.