Sanofi to buy Genzyme for about $20 billion (Reuters)
PARIS (Reuters) – land drugmaker Sanofi-Aventis has agreed to acquire Genzyme Corp for $20.1 billion in cash, plus payments tied to the success of the company's drugs, the companies said on Wednesday.
Sanofi module pay $74 a care in change and a contingent continuance correct for the U.S. biotechnology company. The CVR is a tradable correct to added payments if Genzyme's binary induration drug, Lemtrada, reaches restrictive and income targets or 2011 creation volumes of Cerezyme and Fabrazyme are achieved.
Sanofi said the care would boost playing net earnings per care from the prototypal assemblage following its completion, which it expects primeval in the ordinal quarter, and also predicted it would lift its earnings by 0.75-1.0 euro per care by 2013.
The care is the second-biggest in biotech history and gives France's Sanofi, which has pursued Genzyme for nearly figure months, a achievement in the market to impact thin diseases. It module support Sanofi equilibrate for declining revenue from drugs that hit lost, or are set to lose, papers protection.
The CVR runs until the end of 2020 and entitles holders to a program of payments worth up to $14 in total, depending mainly on the success of Lemtrada.
Genzyme module embellish Sanofi's global doc in thin diseases and reassert a sizeable proximity in Boston, where it based, the companies said in a joint statement.
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