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French drugmaker Sanofi-Aventis SA has agreed to buy Genzyme Corp. with a sweetened $20.1 billion cash offer, plus payments tied to the success of the U.S. biotech group’s drugs, the companies said on Wednesday.
The acquisition, which comes nine months after Sanofi CEO Chris Viehbacher first put the idea to Genzyme’s Henri Termeer, is expected to boost Sanofi’s earnings from the first year after completion by giving it a new platform in rare diseases. Get the full story »
Abbott India on Wednesday agreed to merge Solvay Pharma into itself, combining two Indian units of U.S.-based Abbott Laboratories’ and sending Abbott India shares to a 52-week high.
Solvay Pharma said its shareholders would get three shares of Abbott India for every two held. Solvay Pharma shares fell more than 13 percent on the news. Get the full story »
