January 31, 2011
Genzyme Grants Sanofi Due Diligence Access
French drug maker Sanofi-Aventis has gotten one step closer to acquiring Genzyme Corp., with Genzyme's board authorizing Sanofi to conduct due diligence.
Genzyme, the biotech giant with Cambridge headquarters and operations in Central Massachusetts, announced that the board has authorized a confidentiality agreement that would allow for the due diligence.
Genzyme also said continuing discussions between the two companies have focused on a possible contingent value right for the drug alemtuzumab.
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