16th February 2011 -- Sanofi-aventis announced that it reached an agreement to acquire Genzyme for $74 per share in cash, or around $20.1 billion, along with a series of payments linked to sales and production milestones.
John Shortmoor, independent pharmaceutical companies analyst at Datamonitor, comments:
“This is a great deal for Sanofi, paying close to their original budget of $20 billion, with extra contingency payments only coming if Genzyme's multiple sclerosis drug Lemtrada exceeds Sanofi's expectations.
“Through the acquisition, Sanofi has succesfully gained access to niche markets where competition is limited by more than just patent protection - a stated aim of the company's CEO, Christopher Viehbacher - providing a platform for long-term sales growth, diversifying away from the traditional blockbuster model
“Moreover, through its strong global presence, Sanofi is in a good position to extend the geographic reach of Genzyme's portfolio, especially in growth markets, bolstering the company's long-term sales potential”
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