Henri Termeer, Genzyme CEO, says in an interview that his basic objection to any deal with Sanofi really hinges on price. He still believes $69 per share is too low and says newcomers to the stock had recently purchased it for $70 and $72 per share - as validation for his point of view.
Termeer and Genzyme might accept a newly proposed CVR deal that would set milestone payments (contingent valuaton of the business) based on how Campath fares with the regulators and the market for MS applications.
Finally, Termeer says "Time is on our side" in getting a better price from Sanofi, as Genzyme has remedied many of its manufacturing issues and is plowing ahead to get it plants fully back on line.
Posted by Bruce Lehr November 26th 2010.