According to Financial Times via the NY Times, Henri Termeer in an interview indicate that he is prepared to leave Genzyme to facilitate the deal. He further indicated that he may be on schedule to do so sometime next summer after the Genzyme Campath results are available from an MS trial.
Termeer, who has been accused of "stonewalling" negotiations in the recent past by Sanofi CEO Chris Viehbacher, says he is more open to a takeover than any time in past. He also says he is in 'no hurry' to get deal done and that neither is Viehbacher.
"This process is a dance," said Termeer. "i have loads of things that I could spend more time on but I love Genzyme"
Posted by Bruce Lehr September 29th 2010.
In a somewhat contrary view, Seeking Alpha writes that Sanofi is under greater pressure to do th eGenzyme deal faster since its Toxotere lost in court in attempt to block generic competition. Taxotere represents 8% of Sanofi revenue in 2009.
http://seekingalpha.com/article/228138-court-ruling-increases-pressure-on-sanofi-to-buy-genzyme
Posted by: bigredbruce | 10/03/2010 at 05:47 PM
Fierce Biotech report
http://www.fiercebiotech.com/story/termeer-says-hes-ready-go-when-price-and-time-right/2010-09-29?utm_medium=rss&utm_source=rss
Posted by: bigredbruce | 09/29/2010 at 12:00 PM