Genzyme produces Fabrazyme and Cerezyme, which are drugs for two rare genetic disorders. Genzyme is the sole supplier of the medicines in the United States. As reported last year the company has had some issues here and with the FDA with contamination; however their research and what they are doing still holds interest for Sanofi.
During this real virus scare, not a computer virus, the plant had to be closed until everything was back up to par. BD
PARIS (Dow Jones)--French drugs giant Sanofi-Aventis (SAN.FR) Monday said the company would consider all options in pursuing its takeover proposal for Genzyme (GENZ) after U.S. biotechnology company's board rejected the $18.5 billion offer.
"We are prepared to consider all alternatives" to working with Genzyme's management and board of directors in order to carry out the acquisition, Sanofi Chief Executive Chris Viehbacher told a conference call Monday. He added that it is too early to speculate on the possibility the bid could turn hostile.
Viehbacher said Sanofi had "no choice" but to go public with the $69-a-share offer Sunday after its attempts to hold discussions with Genzyme management were rebuffed.