pharmaceutical industry

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.

Bristol-Myers Squibb Earnings Beat Estimates

Bristol-Myers Squibb reported better-than-expected second-quarter earnings on Thursday, driven in part by higher sales for some of its virology blood-thinner drugs, cost controls and a favorable tax rate.

Genzyme's Problems Continue as FDA Takes Control of Plant

Following a series of manufacturing problems dating back to 2008, biotech company Genzyme announced the FDA will take enforcement action to ensure that products manufactured at its Allston plant in Boston are made in compliance with good manufacturing practice regulations.