Genzyme is NOT backing off plans to sell its diagnostic and oncology genetics testing units - even though Sanofi has expressed some interest in the synergies presented by diagnostics. This according to a story in Fierce Biotech.
"...we expect transactions to close by year end," says Genzyme CEO Henri Termeer. These two units generate more than $500 M in annual sales. Some analysts have publicly doubted whether Genzyme will sell while purchase intentions are in progress with Sanofi. However, others suggest a sales of these assets might be a card Termeer could play to further disrupt negotiations (which haven't even started in earnest yet).
Posted by Bruce Lehr September 3rd 2010.