[an error occurred while processing this directive]
Skip to Main Content

Latest News

Advertisement
Advertise Here
August 9, 2010
Volume 88, Number 32
p. 7
Article Appeared Online August 5, 2010

Sanofi-Aventis Readies Bid For Genzyme

Pharmaceuticals: Takeover would give French giant a portfolio of drugs for rare diseases

Lisa M. Jarvis

  • Print this article
  • Email the editor

Latest News



October 28, 2011

Speedy Homemade-Explosive Detector

Forensic Chemistry: A new method could increase the number of explosives detected by airport screeners.

Solar Panel Makers Cry Foul

Trade: U.S. companies complain of market dumping by China.

Novartis To Cut 2,000 Jobs

Layoffs follow similar moves by Amgen, AstraZeneca.

Nations Break Impasse On Waste

Environment: Ban to halt export of hazardous waste to developing world.

New Leader For Lawrence Livermore

Penrose (Parney) Albright will direct DOE national lab.

Hair Reveals Source Of People's Exposure To Mercury

Toxic Exposure: Mercury isotopes in human hair illuminate dietary and industrial sources.

Why The Long Fat?

Cancer Biochemistry: Mass spectrometry follows the metabolism of very long fatty acids in cancer cells.

Text Size A A

Speculation is reaching a frenzied level that the French pharmaceutical giant Sanofi-Aventis is pursuing the acquisition of Genzyme. According to media reports, Sanofi has sent a letter to the Massachusetts-based biotech firm offering to buy it for $69.00 per share, or roughly $18.4 billion.

The letter kicks off what are expected to be protracted negotiations between the companies. Most analysts think a deal will eventually be sealed for a price per share in the mid-$70 range, or around $20 billion.

Genzyme makes for an attractive target. Despite a healthy portfolio of drugs for rare diseases, the firm has seen its value sink because of manufacturing problems at its site in Allston, Mass. The deficiencies have caused shortages of two products, Fabrazyme for Fabry disease and Cerezyme for Gaucher disease, and led the U.S government to fine the company $175 million (C&EN, May 31, page 33).

Some analysts think Genzyme is in no rush to be acquired during this troubled period. "Our sense is that Genzyme's management is not overly interested in selling at this point and would rather wait until they fix the manufacturing problems in 2011," Citigroup analyst Mark Dainty told investors in a recent report. But Cowen & Co. analyst Philip Nadeau notes that Genzyme's frustrated shareholders and activist management board could push the firm to accept the offer.

An acquisition would cap a buying spree by Sanofi, which in the past year has increased its focus on external opportunities while cutting back on its own R&D. Since June, Sanofi has signed development deals with Metabolex, for a type 2diabetes drug; Regulus, for microRNA-based drugs; Ascenta Therapeutics, for small molecules that block protein-protein interactions; and Vivalis, for monoclonal antibodies that fight infectious disease. It also acquired TargeGen, which develops small-molecule kinase inhibitors.

Chemical & Engineering News
ISSN 0009-2347
Copyright © 2011 American Chemical Society
  • Print this article
  • Email the editor

Services & Tools

ACS Resources

ACS is the leading employment source for recruiting scientific professionals. ACS Careers and C&EN Classifieds provide employers direct access to scientific talent both in print and online. Jobseekers | Employers

» Join ACS

Join more than 161,000 professionals in the chemical sciences world-wide, as a member of the American Chemical Society.
» Join Now!