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Fierce Biotech and the WSJ both report that Sanofi-Aventis has made a pitch to buy Genzyme - current market cap lies between $13-14 B. Genzymes shares reacted strongly with a 19% increase on the news. Sanofi's fell by 5% - although they were also hit with news of the FDA's approval of Momenta's Lovenox generic today.
Posted by Bruce Lehr July 23rd 2010.
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More from Xconomy on this situation.
http://www.xconomy.com/boston/2010/07/23/genzyme-stock-surges-15-percent-on-sanofi-buyout-speculation/
Posted by: bigredbruce | 07/24/2010 at 10:02 AM
More on this from the BioJobBlog
http://www.biojobblog.com/2010/07/articles/biobusiness/finally-a-strategic-move-that-makes-sense-sanofi-aventis-makes-a-bid-for-genzyme/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BioJobBlog+%28Bio+Job+Blog%29&utm_content=Google+Reader
Posted by: bigredbruce | 07/24/2010 at 09:50 AM
More on this story from the WSJ health blog
http://blogs.wsj.com/health/2010/07/23/sanofi-aventis-sidles-up-to-genzyme-with-informal-approach-wsj-reports/
Posted by: bigredbruce | 07/23/2010 at 03:21 PM