Fierce Biotech reports that Sanofi and Genzyme are still in disagreement that Sanofi's $69 per share bid is adequate. Given that Genzyme's current astock price is well above that figure still, more analysts are weighing in on Genzyme's side to say that -- if Sanofi wants to buy the company, they will need to significantly increase their offer. The target is still $75-80 per share. Analysts also agree that the two sides are so divergent in their assessment of future Campath sales that the use of CVRs would be another good tool to use to try to break the impasse.
Of course, none of this is new. We've been hearing this since the Summer. Now, we apparently are going to hear this well into the New Year too -- as Sanofi is likely to extend its offer another 50 days. In this extended time, let's hope they can get the deal done so we can pay attention to someone else.
Posted by Bruce Lehr December 10th 2010.