Genzyme Research Gets Green Light Under New Owner
French drug-maker Sanofi-Aventis will complete its purchase of the Cambridge bio-tech company Genzyme on Friday and the change in ownership is already evident.
Sanofi CEO Chris Viehbacher marked the transition on Thursday by meeting with Genzyme’s employees in Cambridge and Framingham. He told employees that Sanofi’s resources will help them succeed and he is giving the green light to research projects that had been frozen under Genzyme’s smaller budget.
"One of them is for Niemann-Pick, which is a very rare disease," Viehbacker said. "Right in the heart of what has made Genzyme a strong company."
Sanofi is now funding that research along with two other stalled therapies. Viehbacher said he wants Genzyme employees to stay on and to be a part of the growth.
Sanofi agreed to buy the Cambridge-based firm in February for more than $20 billion.
This program aired on April 8, 2011. The audio for this program is not available.