News
17 Feb 2011
Sanofi To Acquire Genzyme for $20 Billion
Sanofi-Aventis and Genzyme Corp. announced a definitive agreement for acquisition of $20.1 billion.
Sanofi-Aventis and Genzyme Corp. have established a definitive deal under which Sanofi will acquire Genzyme for approximately $20.1 billion in cash. The transaction is expected to close early in 2Q11, subject to customary closing conditions.
Genzyme shareholders are also eligible to receive additional milestone payments related to Lemtrada (alemtuzumab MS), or a milestone related to 2011 production volumes for Cerezyme and Fabrazyme.
"This agreement with Genzyme is both consistent with our long-term strategy and creates significant long-term value for our shareholders," said Christopher A. Viehbacher, chief executive officer of Sanofi-Aventis. "This transaction will create a meaningful new growth platform for SA while expanding our footprint in biotechnology. We expect it to be accretive from year one, and the contingent
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