Still No Deal Between Sanofi-Aventis and Genzyme
What is preventing the French pharmaceutical group and U.S. biotech from reaching a merger agreement?
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.
Multiple Suitors Could Be Looking to Buy Genzyme
Rumors are that Sanofi has proposed to buy Genzyme for $70 a share. But analysts believe the likes of Pfizer and the U.K. 's GlaxoSmithKline could be interested as well.
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.
Takeover Talk Sends Genzyme Stock Soaring
Shares of biotechnology drug-maker Genzyme soared as high as 20% Friday on reports that Sanofi-Aventis is considering a takeover.
Health-Care Sector Appears to Rally As Reform Chances Dim
President Obama can't be pleased by the loss of a Democratic Senate seat which jeopardizes passage of his cherished health-care reform. The news, however, appears to have fueled a mini stock rally in the health-care and pharma sectors wary of how any reform would affect their businesses. The uptrend is expected to continue.
