Here are some more articles detailing the Sanofi-Genzyme deal and providing some color commentary on what it all means.
Most immediately for Sanofi, Genzyme gives the company $4 billion in yearly revenue. That’s no small sum even for a card-carrying Big Pharma like Sanofi.
Sanofi stands to help Genzyme resolve its lingering manufacturing problems — which, ironically, helped push its share price low enough to make Sanofi consider a bid in the first place.
Sanofi will need to avoid traps that have tripped up other pharmas that purchased biotech companies. The French company will need to retain Genzyme’s talent and key elements of its culture.
“This transaction represents a new beginning for Genzyme,” Termeer said in Sanofi’s press release today. “Sanofi-Aventis believes in what we do, in our people and in our potential. We look forward to building a sustainable future together.”
Posted by Bruce Lehr Feb 16th 2011.