Medicine company Biogen Inc (Nasdaq:BIIB) announced on Wednesday the formation of the new company, called Bioverativ, upon separation from the former's global hemophilia business.

The newly established Bioverativ is an independent, publicly traded global biotechnology company focused on hemophilia and other rare blood disorders.

Bioverativ's common stock will begin "regular way" trading under the symbol "BIVV" on the NASDAQ Global Select Market on 2 February 2017.

In conjunction with the separation of Biogen and Bioverativ, the companies 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 17 January 2017, the record date for the distribution.

Additionally, Biogen stockholders who have sold their shares of Biogen common stock in the regular way market after 17 January 2017, the record date for the distribution, and on or prior to 1 February 2017, will have sold their right to receive shares of Bioverativ common stock in the distribution. The shares of Biogen common stock in the "ex-distribution" market trade without the right to receive shares of Bioverativ common stock in the distribution.