Genzyme

What is preventing the French pharmaceutical group and U.S. biotech from reaching a merger agreement?

The U.S. biotech is holding an analyst and investor meeting focused on the commercial potential of its multiple sclerosis drug Campath. The goal: to convince Paris-based Sanofi-Aventis to raise its hostile takeover offer in a battle that has now gone on for five months.

Genzyme, which makes drugs to treat leukemia and multiple sclerosis, has rejected a hostile takeover bid from French drugmaker Sanofi-Aventis. The offer "dramatically undervalues" Genzyme, the company said Friday, putting its value about 30% higher.

French pharmaceutical giant Sanofi-Aventis says its multiple sclerosis drug teriflunomide significantly cut relapses in patients who took the once-daily oral treatment.

There's a new plot twist in the takeover battle between French pharmaceutical giant Sanofi-Aventis and U.S. drugmaker Genzyme. A regulatory filing made by Genzyme on Thursday claims Sanofi may be willing to go much higher than its current $69 bid -- a claim the French company disputes.

After months of courting U.S. drugmaker Genzyme, French pharmaceutical company Sanofi-Aventis launched a hostile bid valued at approximately $18.5 billion, or $69 a share, for all outstanding shares of Genzyme common stock.

Sanofi-Aventis CEO Chris Viehbacher said Wednesday that he believes his French pharmaceutical company will eventually buy U.S. biotech company Genzyme at a reasonable price. However, he expects it will take some time to agree on a deal, and he won't rush into anything.

Genzyme (GENZ) announced that it has agreed to sell Genzyme Genetics to Laboratory Corporation of America Holdings (LabCorp) (LH) for for $925 million in cash. Cambridge, Mass.-based Genzyme said that under the terms of the agreement, LabCorp will purchase the genetic testing business in its...

Pharmaceutical giant Sanofi-Aventis is unwilling to pay more than $70 a share in its bid to buy biotech firm Genzyme, media outlets reported Wednesday. If a deal can't be reached, the French drugmaker may consider alternative takeover targets.