The Xconomy post below notes that Genzyme may now be the target of several Big Pharma companies eager to add its biological drugs (and $4.5 B in sales) for rare diseases to their portfolios.
The post also notes all the troubles that Genzyme has experienced in the past year with various and sundry manufacturing mishaps - particularly at its Alston, MA plant. It failed to meet demand for its two highest sellers throughout 2009 and isn't expected to fully recover in 2010 either.
It's stock price rose to $67.07 on Friday's run up following acquisition rumors by Sanofi-Aventis. Over the weekend, both GSK and J&J's names were added to the list of potential suitors. Thus, the possibility of a small bidding war perhaps.
Ryan Mcbride of Xconomy is asking its readers to put forth their price ideas. Analysts have weighed in between low 60's and high 70's price per share range. Where do you believe the price should land? And, who will be the winning suitor?
Posted by Bruce Lehr July 26th 2010.