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- Title
Genzyme-Sanofi buyout is second largest biotech deal ever.
- Authors
Ratner, Mark
- Abstract
The article discusses the buyout by Sanofi-aventis of Paris, France of Massachusetts-based Genzyme. The takeover negotiations started in late July 2010 when Sanofi presented a 17.5 billion U.S. dollars offer to Genzyme management which was rejected due to Sanofi's failure to recognize Genzyme's MS compound Lemtrada. Both parties finally agreed to 74 U.S. dollars per share and additional 14 U.S. dollars through the "contingent value right" (CVR). It cites Sanofi chief executive officer Chris Viehbacher emphasis on having a U.S. biotech presence.
- Subjects
BUYOUTS; SANOFI-Aventis SA; GENZYME Corp.; VIEHBACHER, Christopher A.; BIOTECHNOLOGY
- Publication
Nature Biotechnology, 2011, Vol 29, Issue 4, p293
- ISSN
1087-0156
- Publication type
Article
- DOI
10.1038/nbt0411-293