January 10, 2011
Genzyme, Sanofi Officially Talking
Genzyme Corp., the Cambridge-based biotechnology giant with significant operations in Central Massachusetts, acknowledged that it is in negotiations with Sanofi-Aventis SA, the French pharmaceutical company that has been trying to acquire it.
Genzyme says discussions have focused on the terms of a negotiated transaction, including a possible contingent value relating to the drug alemtuzumab, which Genzyme has been testing for use in fighting multiple sclerosis.
Genzyme previously rejected Sanofi's offer of $69 per share as too low.
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