22.11.2010 • News

New Deal Structure for Genzyme?

U.S. biotechnology firm Genzyme, which is fending off an $18.5 billion hostile takeover bid from France's Sanofi-Aventis, is considering a new deal structure that Sanofi has said it would be open to, The Wall Street Journal reported on Sunday.

Genzyme has been holding internal discussions to consider the use of a contingent value right (CVR), which give shareholders more value if the acquired company hits benchmarks, the Journal reported, citing people familiar with the matter.

This particular CVR would likely be tied to the performance of Genzyme drug Campath, an experimental drug for multiple sclerosis that has already been approved for cancer.

Sanofi has called Genzyme's projection of up to $3.5 billion in peak sales for Campath unrealistic. Genzyme has dismissed Sanofi's $69 per share bid as too low. Sanofi and Genzyme could not be immediately reached for comment.

Special Issue

Circular Plastics Economy
Explore the Future of Plastics

Circular Plastics Economy

This special CHEManager issue explores the industry’s pivotal shift towards a more sustainable, circular plastics value chain. Readers will find expert analysis and real-world solutions for today’s most pressing recycling and regulatory challenges.

Interview

Stability in Motion
Strategic Response to a Shifting Pharma Landscape

Stability in Motion

Stefan Oelrich, Member of the Board of Management and President Pharmaceuticals, Bayer, discusses navigating external volatility, reshaping its internal structures, and investing in future-ready capabilities to ensure sustainable growth.

most read

Photo

VCI Welcomes US-EU Customs Deal

The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.