Genzyme Completes Diagnostics Sale
Genzyme, the Cambridge-based pharmaceutical company with major Central Massachusetts operations, has completed the $265 million sale of its diagnostics division.
The company, which is currently in negotiations for its possible sale to French biotech giant Sanofi Aventis, received cash for its diagnostic division from Sekisui Chemical Co. Ltd. The two companies have worked together for about 15 years.
All of Genzyme's diagnostic employees will be offered positions within Sekisui.
Genzyme also announced today that it plans to sell its pharmaceutical intermediates business to International Chemical Investors Group, a deal that is expected to close before the end of the first quarter.
In this week's WBJ Online Readers' Poll, we'd like to know if you think Genzyme will be sold to Sanofi.
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