E-Paper
Sanofi to buy Genzyme for $20.1 billion
French drug maker Sanofi-Aventis SA on Wednesday agreed to buy Genzyme Corp with a sweetened $20.1 billion cash offer, plus payments tied to the success of the US biotech group’s drugs, the companies said on Wednesday.
Updated on: Feb 17, 2011, 24:51:34 IST
Share via
Copy link
French drug maker Sanofi-Aventis SA on Wednesday agreed to buy Genzyme Corp with a sweetened $20.1 billion cash offer, plus payments tied to the success of the US biotech group’s drugs, the companies said on Wednesday.
Sanofi will pay $74 a share in cash and offer a tradable contingent value right, or CVR, whose value will depend on Genzyme’s experimental multiple sclerosis drug Lemtrada and production of two other medicines.
The deal’s announcemen marks the second-biggest in biotech history and will help Sanofi offset declining revenue from drugs that have lost, or are set to lose, patent protection.
Follow India news real-time updates and the latest news covered on Hindustan Times, featuring today's critical updates on Sonam Wangchuk LIVE and more across India.
