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May 12, 2021
BUSINESS

Sanofi-Aventis to buy Genzyme in USD 20 bln deal

Sanofi-aventis said that it will buy Genzyme for USD 20.1 bln in cash. French drug maker Sanofi-Aventis decided to raise its original USD 69-a-share offer to USD 74 to get hold of Genzyme’s portfolio of rare disease treatments, telegraph.co.uk informs. Sanofi-Aventis will also make additional cash payments to Genzyme shareholders tied to the success of the Massachusetts-based company’s experimental multiple sclerosis drug Lemtrada and production volumes of two other medicines. The deal ends nearly nine months of haggling between the two companies. Boards of both companies unanimously approved the deal, which is expected to close early in the second quarter, Sanofi-Aventis said in a statement.

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