Termeer

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

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...

For Genzyme Corp (GENZ), this year seems to have been plagued with one piece of bad news after another. On Wednesday, the biotechnology company announced that it was dropping development of its experimental kidney disease drug after it failed to show significant improvement over the company's...