Genzyme

Genzyme Talks Up Possible Sales of Its New MS Drug

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 Rejects Sanofi-Aventis Takeover Bid

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.

Sanofi Says MS Drug Reduces Relapses

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

Sanofi Denies Offering $69-$80 Price Range to Genzyme

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.

Sanofi-Aventis Launches Hostile Bid for Genzyme

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 Is in No Rush to Reach Deal With Genzyme

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.

Sanofi-Avenits Won't Boost Genzyme Bid

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.

Sanofi-Aventis Opens Buyout Talks with Genzyme

French pharmaceutical giant Sanofi-Aventis sent a letter to major U.S. biotech firm Genzyme proposing a friendly takeover valued at $69 a share, or $18.4 billion. But that's a lot less than $80 a share, or $21.3 billion, that sources say Genzyme is looking for.

Sanofi-Aventis Earnings Beat Expectations

On Thursday, Sanofi-Aventis reported its second-quarter net profit rose 7.6% to 2.48 billion euros, beating expectations. But the French drugmaker warned that earnings may fall for the full year, and it remained silent about its rumored plan to make a friendly bid for Genzyme.

Genzyme Stock Up Again on Takeover Reports

Is Genzyme for sale? There's still no official confirmation, but Genzyme shares continued to rise on speculation the pharma firm may be a takeover target. Sanofi is a likely buyer, but other suitors are said to be waiting in the wings.