Please login to the form below

Not currently logged in
Email:
Password:

S-A in informal talks to acquire Genzyme

French drugmaker sanofi-aventis has approached Genzyme regarding a potential acquisition, according to a "reliable" source

French drugmaker sanofi-aventis (S-A) has approached Genzyme regarding a potential acquisition, according to a "reliable" source.

It is thought that S-A started informal talks with Genzyme, the largest maker of medicines for genetic diseases, about two weeks ago. The talks remain at an early stage and issues such as price and management have yet to be discussed.

Acquiring Genzyme would help S-A expand in biotechnology. Earlier this month, sources suggested S-A was planning an acquisition in the US that may be worth $20bn or more, but declined to be specific.

At the time, analysts cited Genzyme as a potential target for a takeover as well as Allegan and Biogen Idec.

Genzyme's current market capitalisation is close to $14bn.

Shares in the biotech firm climbed 21 per cent on the news of the talks, marking the largest stock price increase for Genzyme in more than a decade.

26th July 2010

Share

PMEA Awards 2020

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
Streaming Well

Streaming Well is a healthcare-focused, award-winning video production company which operates in the US and Europe. We create engaging visual...

Latest intelligence

Good design saves lives
Good design and creative thinking are essential if we are to improve on existing problems in new ways, which is why design and creativity within healthcare is vital. Health is...
Why you must understand the pricing of patient recruitment companies
Recruiting a diverse range of patients and engaging with them for your clinical trial isn’t an easy task, which means you might turn to patient recruitment companies, like us, who...
wearable health tech
A cultural shift in clinical research
Research organisations across the board are experimenting with new technologies...

Infographics