Through Expanded Talks, Sanofi-Aventis Closes In On Genzyme
French drug giant Sanofi-Aventis is coming closer to acquiring Cambridge pharmaceutical company Genzyme.
Genzyme has been cool to previous offers from Sanofi-Aventis, which has been pursuing the company since last summer. Sanofi-Aventis is looking get new drugs into its pipeline, and Genzyme could profit from the international reach the global company offers.
The executives in Cambridge have been holding out for a higher price. At issue is how much money a new multiple sclerosis drug is going to make. Genzyme wants a provision in any deal to get more money if the drug turns out to be a blockbuster.
Now that talks have been expanded, the two companies may be ready to deal.
This program aired on January 10, 2011. The audio for this program is not available.