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Tags: Genzyme Sanofi Aventis

Sanofi, Genzyme Officials Discuss Terms of Possible Deal

Monday, 10 January 2011 12:50 PM

Biotech drugmaker Genzyme Corp. says talks between its financial advisers and those of suitor Sanofi-Aventis have expanded to include representatives of both companies.

The Cambridge, Mass., company says the talks focus on potential terms for a deal and include ways to value right for its experimental multiple sclerosis drug called alemtuzumab.

Genzyme shares rose 2 percent in pre-market trading.

French drugmaker Sanofi-Aventis has been pursuing a deal with Genzyme since last summer. Genzyme has rejected Sanofi's takeover bid of $18.5 billion.

Genzyme stumbled last year after regulators uncovered plant manufacturing problems, but the company says Sanofi's offer fails to account for its recovery and pipeline of developing drugs like alemtuzumab.

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Biotech drugmaker Genzyme Corp. says talks between its financial advisers and those of suitor Sanofi-Aventis have expanded to include representatives of both companies.The Cambridge, Mass., company says the talks focus on potential terms for a deal and include ways to value...
Genzyme Sanofi Aventis
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2011-50-10
Monday, 10 January 2011 12:50 PM
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