FranceFrance

Sanofi in pursuit of Genzyme

27.07.2010

Paris-based drug company Sanofi-Aventis appears to be considering spending more than US-$20 billion for Genzyme Corp., the Wall Street Journal reported citing informed circles. This would be the biggest biotech acquisition after Roche's $46 billion deal to take over Genentech in 2009. The Journal said that talks between the companies are in their early stages and Genzyme executives are trying to establish what price Sanofi-Aventis would be willing to pay. Sanofi-Aventis is feeling the first serious signs of pipeline drought and on Friday, the French drug maker said profits may fall this year after U.S. regulators approved a generic rival to its Lovenox blood thinner that had been generating sales of about $4 billion a year.
Genzyme is a beauty which is apparently courted not only by French cavaliers but also British gentlemen. Wall Street Journal said the drugmaker GlaxoSmithKline also made a "very casual approach" to Genzyme Corp, asking to be notified if Genzyme considered selling itself, citing a person familiar with the matter. The time to buy Genzyme might never have been better.
The Massachusetts-based company had a market capitalization of about $17 billion as of July 23, having lost over one-third of its value in the past two years as it suffered from manufacturing woes that caused shortages of two of its biggest-selling drugs. For the quarter ended June 30, the company reported sales of $1.08 billion and for 2009, it generated $4.5 billion sales. As rumours about the takeover spread, share jumped from $53 on Friday to more than $66 on Monday. Sanofi as well as Genzyme decline any comment.

FranceFrance

28.03.2012

Minneapolis/Banzancourt – Bioamber Inc. is one step closer to the environmental summit. The company's goal is to establish sustainable, "green" chemistry on an industrial scale. The French/US enterprise has now scaled up its...

FranceFrance

14.03.2012

Sophia Antipolis/ Madison – French NicOx S.A. and the global eye health specialist Bausch & Lomb have announced positive top-line results from their phase 2b dose finding study with BOL-303259-X, a nitric oxide-donating version...

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13.03.2012

Paris/Barcelona – French pharma company Sanofi strengthens its ties with the Spanish research institution CGR (Center for Genomic Regulation) in Barcelona. CGR stated on 12 March that the two partners agreed upon three years of...

FranceFrance

06.03.2012

Lyon – The sale of 1.6 million shares brought in €25.3m for French Adocia SAS during its IPO on the Euronext Paris. The price of €15.88 values the diabetes specialist at €96.1m at the upper end of the bookbuilding range. Late...

FranceFrance

05.03.2012

Pointing to a new study on Syngenta’s GM maize Bt11, France’s Environment Ministry has asked the European Commission to suspend authorisation for the use of the MON810 maize sold by US agri­biotech giant Monsanto as well. The...

FranceFrance

27.02.2012

Cambridge - Genzyme will shut the doors at its Cambridge R&D site by the end of the year, with up to 60 employees expected to lose their jobs. The move is part of an ongoing global restructuring of R&D by Sanofi, who purchased...

FranceFrance

07.02.2012

Lille – Shares of the French diabetes specialist Genfit S.A. almost doubled when the company published results of its Phase II study with the PPAR alpha and delta modulator GFT505. The compound has met the co-primary and...

FranceFrance

06.02.2012

Shares of the French diabetes specialist almost doubled when the companypublished results of its Phase II study with the PPAR alpha and deltamodulator GFT505. The compound has met the co-primary and secondaryendpoints while...

FranceFrance

02.02.2012

Bagneux - DBV Technologies is planning an IPO on Euronext Paris. The French pharmaceutical group specialising in the treatment of allergies was founded in 2002. DBV's proprietary technology Viaskin is used to administer an...

FranceFrance

12.01.2012

Berlin/Paris – Sanofi Pasteur has licensed a yeast strain from German Organobalance to produce vaccines. With the deal, the vaccines division of the French drugmaker will gain exclusive access to a modified strain of...

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