Sanofi Aventis Proposes Takeover of Genzyme

iStock_000006963239Medium[1]As reported by the Financial Times, the French pharmaceutical company, Sanofi Aventis, has made a preliminary takeover approach to the US biotech group, Genzyme.

It has been reported however that the approach does not constitute a formal proposal and the two companies are not currently in talks. However, Sanofi’s CEO Chris Viehbacher is reportedly considering using the company’s cash to partake in acquisitions in a bid to secure revenues as the patents on their existing drugs are set to expire.

The majority of Genzyme’s focus lies with orphan drugs – those which are used to treat rare conditions which affect a very small percentage of the population. These drugs there for come with high price tags – an attractive prospect for Sanofi.

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