Biogen's Hemophilia Business Spinoff Planned For Early 2017

Biogen Inc. said Tuesday that its previously-announced hemophilia business spinoff into a standalone biotech company now has a name, Bioverativ, and a planned early-2017 launch date. The new company plans to trade under the ticker BIVV on the NASDAQ stock market, Biogen said, and will focus on treatments for hemophilia and other blood disorders. The spinoff was first announced in May. Biogen shares rose 16.1% over the last three months, compared with a 5.9% rise in the S&P 500 .