After Months of Haggling, Sanofi Getting Closer to Buying Genzyme

With Sanofi-Aventis nearing a deal to purchase Genzyme, an acquisition would bolster the French drugmaker’s pipeline, especially in biologics, and could soften the blow from a critical marketing exclusivity cliff for several of its key products. Genzyme said Jan. 31 that its board had authorized the company to enter an agreement allowing Sanofi to begin the due diligence process, granting access to Genzyme’s financial books. Sanofi began the mating dance by offering a $69/share, $18.5 billion bid last year, but Genzyme repeatedly said it wasn’t interested in moving forward at that price. But the newest Sanofi advance could result in a per-share bid in the high $70s.
Washington Drug Letter