Sanofi (France) (SAN.PA) Chief: Genzyme Corporation (GENZ) Purchase Made Investors Respect Us
9/19/2013 8:03:17 AM
Two and a half years after buying local biotech Genzyme Corp. for $20.1 billion, Sanofi SA’s chief executive said Wednesday that the deal has paid off handsomely for his company, sparking a business surge that has added $40 billion to the international pharmaceutical giant’s market value. Christopher A. Viehbacher, in town for Thursday’s opening of Sanofi’s global cancer research center at 640 Memorial Drive, said the Genzyme acquisition proved to be a “crystallizing moment” for the French drug maker. Genzyme has been among the fastest growing parts of Sanofi, with sales increasing 25.5 percent in the first half of 2013.
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