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Home  /  Forum  /  Crucell  /  Sanofi, Sanofi en nog eens Sanofi

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Sanofi, Sanofi en nog eens Sanofi

785 Posts
Pagina: «« 1 ... 34 35 36 37 38 ... 40 »» | Laatste | Omlaag ↓
  1. maxen 30 augustus 2010 15:35
    ...Viehbacher -- dubbed the "Smiling Killer" by some staff...

    finance.yahoo.com/news/

    PARIS/BOSTON (Reuters) - U.S. biotech Genzyme broke its five-week silence to reject an $18.5 billion takeover proposal by French drugmaker Sanofi-Aventis on Monday, dismissing it as opportunistic and too low.

    Sanofi Chief Executive Chris Viehbacher confirmed his $69 per share non-binding cash offer for Genzyme on Sunday, hinting he could make a hostile takeover bid following several unsuccessful attempts to hold talks with Genzyme management.

    Genzyme hit back on Monday, saying that Sanofi's proposal showed no improvement in price since Viehbacher first wrote to management in July and failed to form the basis for talks.

    "The Genzyme board is not prepared to engage in merger negotiations with Sanofi based upon an opportunistic proposal with an unrealistic starting price that dramatically undervalues the company," Genzyme CEO Henri Termeer said in a letter to Viehbacher published on Monday.

    Sources previously told Reuters that Genzyme wants an offer of at least $75 per share before Sanofi could review its books. Some shareholders want as much as $80 a share to clinch a deal.

    Genzyme said on Monday that Sanofi and its advisers claim Sanofi is willing to pay more but that the company is unwilling to "bid against" itself.
    ere was a limit to his patience.

    "We want to show that we are determined and serious, without being threatening straightaway. Quite some time can go by yet," Viehbacher -- dubbed the "Smiling Killer" by some staff for his cost-cutting zeal -- said in the interview.

    Genzyme shares were up 4.3 percent to $70.55 in pre-market trade in New York, following its rejection of Sanofi's offer.

    Sanofi shares were up 0.9 percent at 45.655 euros, while the Stoxx 600 European health care index gained 0.7 percent.

    Viehbacher said on Sunday that disclosing Sanofi's non-binding offer would give Genzyme shareholders a chance to see the "significant shareholder value and compelling strategic fit inherent in a combination of the two companies."

    "There now seems to be a greater possibility of Sanofi-Aventis going hostile," Jefferies International analysts wrote.

    "We see Sanofi's tactics to date as being good, weakening the Genzyme shareholder base already by blowing hot and cold via the press on a potential acquisition in the absence of any visible counter-bidder."

    Some analysts suggested Genzyme, which is trying to fix manufacturing problems that led to shortages of two of its top drugs and had hit its stock price, may not get a better offer and that a hostile bid by Sanofi could even be lower.

    Roche Holding cut its bid to buy out shareholders in U.S. biotech Genentech in 2008 when it turned hostile after Genentech rejected a previous offer, although it subsequently sweetened its offer in 2009.

    "Sanofi realizes these guys are in a corner and are thinking why should they pay over the odds?," said Navid Malik, an analyst at Matrix Corporate Capital in London.

    "We've not seen any white knights and if this offer doesn't go through we'll see the shares back well below $60. I don't think there is a white knight out there. I think this is the only offer Genzyme shareholders will see."

    Analysts have said they expect a deal to be finalized in the range of $74 to $77 a share. If Sanofi walks away, analysts see shares of Genzyme falling to the low $50-range. Some say it could take at least a year for them to rebuild the lost value.

    The Jefferies analysts saw a potential offer of $75 a share and said Sanofi may prefer "the long game of waiting" until Genzyme's annual meeting in May to let shareholders vote on a hostile bid.

    Genzyme is the world's dominant supplier of drugs to treat Gaucher and Fabry disease -- rare, inherited disorders in which patients lack key enzymes for breaking down fats.

    News of Sanofi's initial approach emerged late in July and the drugmaker sent a written expression of interest on July 29.

    Sanofi said Genzyme rebuffed the offer on August 11 but after some persuasion agreed to a meeting of financial advisers on August 24
  2. forum rang 10 voda 30 augustus 2010 17:07
    Sanofi drukt miljardenbod op Genzyme door
    30 augustus 2010 | Het Financieele Dagblad

    Van onze redacteur

    Amsterdam

    Het Franse farmacieconcern Sanofi-aventis heeft een bod van $ 18,5 mrd in contanten uitgebracht op het Amerikaanse biotechbedrijf Genzyme. Dat heeft Sanofi-aventis zondag bekendgemaakt. Daarmee bevestigt de medicijnenproducent geruchten die al ruim een maand de ronde doen.
    .....

    Te weinig

    Of te veel

    Genzyme wil zijn boeken niet openen, omdat het $ 69 per aandeel een te lage prijs vindt om serieuze onderhandelingen mee te beginnen. Het bedrijf zou $ 75 als ondergrens zien. Sanofi is bang te veel voor Genzyme te betalen. Het ziet de recente productieproblemen van Genzyme bij zijn grootste fabriek daarbij als een voornaam risico.

    etc.

    www.fd.nl/artikel/20146266/sanofi-dru...
  3. forum rang 10 voda 30 augustus 2010 17:14
    Genzyme wijst overnamebod Sanofi weer af
    30 augustus 2010, 17:08 | ANP
    NEW YORK (AFN) - Het Amerikaanse biotechnologiebedrijf Genzyme heeft een tweede overnamebod van de Franse farmaceut Sanofi-Aventis afgewezen. Genzyme maakte maandag bekend niets te moeten hebben van het bod van 18,5 miljard dollar (14,5 miljard euro) dat Sanofi zondagavond uitbracht.

    Genzyme wees een kleine drie weken geleden al een bod van Sanofi van de hand. Het nieuwe bod bevatte noch een betere prijs, noch nieuwe informatie, zo liet Genzyme-topman Henri Termeer maandag weten.

    Termeer zei ,,niet met Sanofi in gesprek te willen gaan op basis van een opportunistisch voorstel met een onrealistische beginprijs''.

    Niet verrassend

    Volgens Sanofi is de reactie van Genzyme op het bod van 69 dollar per aandeel ,,niet verrassend''. Het bod biedt een premie van 38 cent bovenop de koers van 1 juli, aldus de farmaceut.

    Sanofi-topman Chris Viehbacher suggereerde dat zijn onderneming overweegt een vijandig bod op Genzyme uit te brengen. ,,Onze voorkeur gaat uit naar gesprekken met het bestuur van Genzyme om tot een overeenkomst te komen, maar wij zijn bereid alle alternatieven te overwegen om deze transactie te kunnen sluiten''.
  5. forum rang 4 harvester 30 augustus 2010 22:43
    quote:

    aossa schreef:

    Ze hebben daar bij GENZ wat te verbergen (voor Viehbacher) in hun boeken...
    bedoel je mogelijke toevoegingen aan of ontwikkelingen in de pipeline van Genz?

    of ze hopen er op dat er schot komt in het oplossen van de productieproblemen.

    Ook dan is het beter om pas later te kijken naar eventuele biedingen.
  7. forum rang 4 aossa 1 september 2010 09:15
    Zoals reeds eerder vermeld: Total en L'Oreal liggen dwars bij overname ambities van Chris Viehbacher.

    08:50 - 01 september 2010 door Kim Evenepoel
    'Bestuur Sanofi verdeeld over Genzyme-bod'

    De raad van bestuur van farmareus Sanofi-Aventis is verdeeld over het bod van 14,6 miljard euro op het Amerikaanse biotechbedrijf Genzyme.
    Foto Bloomberg

    Dat schrijft de Wall Street Journal. Vooral de productieproblemen bij Genzyme, die de commercialisering van producten bemoeilijkt, doen de vraag rijzen of Sanofi niet te veel betaalt.

    Chris Viehbacher, gedelegeerd bestuurder van Sanofi, moet daarmee nu een strijd op twee fronten voeren. Genzyme wees immers het bod van Sanofi afgelopen weekend nagenoeg onmiddellijk af. Het management van het biotechbedrijf stelt dat het bod hun bedrijf 'dramatisch onderwaardeert'.

    Total en L'Oreal, de twee belangrijkste aandeelhouders van Sanofi, maken zich nu zorgen dat het farmabedrijf te diep in de buidel zal tasten. Zij hebben samen vier bestuurszitjes bij Sanofi. Volgens de Wall Street Journal zou ook een onafhankelijk bestuurder zich zorgen maken.

    Het voornaamste probleem bij Genzyme is dat ontwikkelings- en productieproblemen een vlotte lancering van nieuwe producten in de weg staan. De twijfelende Sanofi-bestuurders vragen zich af hoe snel die problemen kunnen opgelost worden.

    In een korte reactie liet Sanofi enkel weten dat het bod 'de volledige steun heeft van de raad van bestuur'.
  8. forum rang 10 voda 1 september 2010 21:15
    Genzyme's Termeer, Biotechnology Pioneer, May Sell
    By Meg Tirrell and Elizabeth Lopatto - Sep 1, 2010 3:54 PM GMT+0200

    Henri Termeer, a biotech industry pioneer and chief executive officer at Genzyme Corp., is on the verge of losing control of the company he transformed from a start-up in 1983 into a cutting-edge drugmaker with $4.5 billion in annual sales.

    Pressured by an unsolicited $18.5 billion buyout offer from Paris-based Sanofi-Aventis SA, activist investors on his board and shareholders, Termeer says he will consider selling, if he can get the right price.

    The CEO, 64, stands to make about $300 million from a sale to Sanofi. At the same time, Termeer is under siege. He says he will fight the drugmaker’s $69-a-share offer, saying it undervalues Genzyme’s research pipeline. He is contending with billionaire investor Carl Icahn, who gained control of two seats on the board in June, and is pressing for a higher stock price. And he has yet to resolve manufacturing glitches that led to product shortages, drove shares down as much as 43 percent from a 2008 high, and made the company vulnerable to a takeover.

    “He’s caught between a plant in Allston that is a disaster, Icahn in bed with him and Sanofi banging on the door,” said Erik Gordon, a professor at the University of Michigan’s Stephen M. Ross School of Business in Ann Arbor, who has followed the biomedical industry for 30 years. “If Sanofi doesn’t fire him I think Icahn will.”

    Offer Rejected

    Genzyme, based in Cambridge, Massachusetts, rejected Sanofi’s offer Aug. 30, saying it undervalued the company’s experimental medicines, including treatments for Gaucher disease and multiple sclerosis, as well as its progress in fixing manufacturing deficiencies. Sanofi made public its $69-a-share bid on Aug. 29 after two months of trying to get Termeer and his board to negotiate.

    Though Termeer will receive about $23 million if he loses his job in a Genzyme sale, and he owned about 1.5 percent of the stock as of April, valued at about $283 million at $69 a share, the CEO said yesterday that he won’t hand over the company he built without a battle over price.

    “The company is not for sale at $69 and we made that clear,” Termeer said in a telephone interview. “What the shareholders deserve is a fair value.”

    Genzyme rose 45 cents, or less than a percent, to $70.56 at 9:46 a.m. New York time in Nasdaq Stock Market composite trading, $1.56 above Sanofi’s bid. The shares climbed 29 percent from July 22, the last day of trading before the French drugmaker’s buyout interest was reported, through yesterday.

    Especially Valuable

    Termeer’s stance reflects his oft-stated position that the company’s business model, which the Dutch-born chief is widely credited with creating, and which other biotechs have since copied, makes Genzyme especially valuable to drugmakers like Sanofi. Unlike the pills produced by traditional drug companies, Genzyme’s medicines are made using biological processes and can’t be readily copied by generic-drug makers. Genzyme garners premium prices from insurers and government payers because the therapies provide life-saving benefits.

    “That’s the number one thing he’ll be known for -- the orphan-drug business model,” Robyn Karnauskas, an analyst at Deutsche Bank Securities in New York, said in a telephone interview. “It’s been very successful.”

    Genzyme’s best-selling medicine, with $793 million in sales last year, is Cerezyme, a mass-produced version of a human enzyme missing in patients with the inherited illness Gaucher disease. Fabrazyme, for the genetic illness Fabry disease, and Myozyme and Lumizyme for Pompe disease, similarly provide patients with enzymes their bodies fail to make or produce adequately on their own.

    New Sector

    “We created a completely new sector in the health-care field,” Termeer said yesterday. “It’s interesting that companies like Sanofi and others are considering a strategic marriage like this in a very important way to reshape and form their future.”

    Sanofi’s $69 offer represents a 31 percent premium over Genzyme’s average share price in the 20 days leading up to July 22, when the stock was unaffected by speculation the French drugmaker would make a bid. That compares with an average premium of 58 percent paid for 494 U.S. biotechnology companies acquired in the last five years, according to Bloomberg data.

    Termeer is regarded as one of the fathers of biotechnology, said Robert Coughlin, CEO of the Massachusetts Biotechnology Council, an advocacy group based in Cambridge, Massachusetts. Coughlin, whose son has cystic fibrosis, an inherited chronic disease that affects about 70,000 people worldwide, said he appreciates Termeer’s focus on rare illnesses.

    Rare Diseases

    “When I talked with him about his commitment to rare disorders, especially in a day and age where everyone’s looking for the next blockbuster, I said, ‘What makes you think this is important when there aren’t so many patients?’,” Coughlin said. “He said, ‘Well, it’s pretty important to the person who has it.’”

    The strategy has paid off. Cerezyme costs about $260,000 a year per patient in the U.S., according to Oppenheimer & Co. analyst Brian Abrahams. The drug was a blockbuster for Genzyme, surpassing $1 billion in annual sales in 2007 and 2008 before revenue declined last year amid the drug shortages.

    Shareholders felt Genzyme didn’t take the problems at the Allston plant seriously enough, said Michael Obuchowski, chief investment officer of First Empire Asset Management in Hauppauge, New York. In another company, the CEO might have been fired, Obuchowski said. First Empire owns about $600,000 of Genzyme shares.

    Rising Demand

    It was a commitment to meet a rising demand from patients for products they otherwise can’t get that led to the manufacturing breakdowns at the company’s plant in Boston’s Allston neighborhood, Termeer said in a June interview. The need for Myozyme, which treats an illness that leads to a buildup of sugar harmful the heart, was higher than Genzyme anticipated.

    To increase supplies, the company started producing the drug at the Allston site, which threw the plant out of compliance and reduced its stock of other medicines.

    Then, when a virus contaminated the plant, there wasn’t enough inventory of the other drugs to prevent a shortage, Termeer said.

    “It was life and death, so the pressure was enormous,” he said in June. “You get extreme reactions from families. Patients get very aggressive.”

    Genzyme’s shares dropped 2.6 percent from June 15, 2009, the day before it reported it would have drug shortages because of the contamination, through July 22 of this year, the last day of trading before Sanofi’s buyout interest was reported. In that period, the Standard & Poor’s 500 Index climbed 18 percent.

  9. forum rang 10 voda 1 september 2010 21:17
    part 2:

    Stock Drop

    The company’s stock had dropped as much as 43 percent, to $47.16, in June of this year from a 2008 high of $83.25 in the aftermath of the manufacturing issues. The decline opened the door for Icahn to buy in, and he launched a proxy fight in February.

    Termeer and Icahn brokered a compromise by adding two Icahn-approved board members in June. During the proxy contest, Genzyme said it would buy back $2 billion in stock and sell or spin off three units that aren’t part of its main business in rare-disease drugs.

    Icahn “puts money in and he wants money out,” the University of Michigan’s Gordon said. “Icahn is not cuddly.”

    Icahn didn’t return calls seeking comment yesterday.

    Sanofi is also aiming to take advantage of the biotech company’s depressed stock, said Sven Borho, a Genzyme investor. Anything less than $75 a share doesn’t accurately value Genzyme after it remedies the manufacturing problems, he said Aug. 4.

    Losing Revenue

    “Sanofi is losing revenue and needs to address its problems,” Borho, a partner at OrbiMed Advisors in New York, which holds about 2.5 million Genzyme shares, said in an interview last month. “Don’t come through Genzyme and try to get a discount.”

    Borho didn’t return calls yesterday.

    Led by CEO Chris Viehbacher, Sanofi is seeking new products to help replace medicines accounting for more than 20 percent of revenue that face generic competition by 2013. The drugmaker has spent about $17 billion on 25 acquisitions since Viehbacher took the helm in 2008, according to data compiled by Bloomberg.

    Termeer said in June that he was considering retiring in 2011, after helping resolve Genzyme’s manufacturing defects and establishing a market for its Pompe disease drug, Lumizyme, which was approved in May.

    “Next year I’m 65 years old,” Termeer said in an interview at the time. “I’m thinking 2011 would be a logical year when a transition could be organized.”

    Termeer said then that drug shortages due to the manufacturing failures were his “greatest disappointment.”

    ‘Enormous Regrets’

    “I have enormous regrets,” the CEO said. “This will never happen again.”

    Those problems won’t taint Termeer’s legacy as a business leader, said Bill George, a professor at Harvard Business School in Boston and former CEO of device maker Medtronic Inc. of Minneapolis.

    “There’s enormous pressure on him from Icahn and others who aren’t interested in the long-term growth of Genzyme but want to make a sale, a quick gain on the stock,” George said in a telephone interview. “This is a long-term industry faced with short-term shareholder pressures.”

    To contact the reporters on this story: Meg Tirrell in New York at mtirrell@bloomberg.net; Elizabeth Lopatto in New York at elopatto@bloomberg.net.

    www.bloomberg.com/news/2010-09-01/bio...
  10. [verwijderd] 15 september 2010 12:53
    Total reaffirmed it plans to divest its remaining 5.7% stake in pharmaceutical group Sanofi-Aventis (SNY) by end 2012.

    Company Web site: www.total.com

    - By Geraldine Amiel, Dow Jones Newswires; +33 1 40171740;

    geraldine.amiel@dowjones.com; (END)

    Dow Jones NewswiresSeptember 15, 2010 05:02 ET (09:02 GMT)
  11. forum rang 4 aossa 15 september 2010 14:08
    TOTAL gaat zich meer toeleggen op nieuwe energie en wilt enkele van haar vroegere participaties terugkopen van Gaz De France.

    Wie is geintresseerd in de SA participatie (zal verplicht een frans bedrijf moeten zijn imho) ?

    En dan is er ook nog erfgenaam Madamme L'Oreal die dringend geld nodig heeft om verdoken belastingen te betalen.
  13. [verwijderd] 28 september 2010 21:03


    Published: September 17, 2010


    Filed at 10:19 a.m. ET

    PARIS/LONDON (Reuters) - An oil major, a luxury cosmetics company and independent directors including a former astronaut will have a key say in what may be the next multi-billion dollar merger to shake the global pharmaceutical industry.

    Sanofi-Aventis Chief Executive Chris Viehbacher wants to buy U.S. based Genzyme, which makes drugs to treat rare diseases, for $18.5 billion, but may be forced to pay more in the face of resistance from Genzyme.

    This means Viehbacher has to keep his own board of directors onside.

    The board, which has just lost its flamboyant, long-standing chairman, is dominated by representatives of top shareholders Total and L'Oreal, but is also brimming with pharma experts brought in via acquisitions.

    "What's unusual is the way Sanofi has been cobbled together," said Harry Korine, who teaches corporate governance at London Business School and global strategy at French business school INSEAD.

    "That means you have shareholders who have a very, very long-term interest in the company, who've known the constituent parts for decades, and it makes decision-making harder than a company that's had 20 or 30 years of uniform, organic growth."

    Any hopes from Genzyme shareholders for a dramatically improved bid may hinge on how the internal dynamics of this disparate board play out.

    Both Total and L'Oreal have deep roots in Sanofi-Aventis and retain influence over management of the company.

    Sanofi was owned until 1998 by Elf Acquitaine, which was later bought by Total. Luxury cosmetics group L'Oreal owned Sythelabo, which merged with Sanofi that year.

    The pair together own about 15 percent of the stock and 27 percent of the voting rights. Current and former L'Oreal and Total executives represent a third of the board, a fact some experts say gives the two companies too much influence.

    Former L'Oreal chief executive and current chairman Lindsay Owen-Jones, 64, has sat on the board for roughly 10 years, one of the longest tenures. He is a legend in French business for turning L'Oreal from a French haircare specialist into a global cosmetics giant.

    NATURALLY CAUTIOUS

    With him sits L'Oreal finance head Christian Mulliez, 49, also a pharmaceutical industry veteran, who worked for Synthelabo for more than a decade.

    "He's a pharma guy way before he's a cosmetics guy. He knows Sanofi inside and out so he is bound to be a board leader, but he's also a CFO which makes him naturally cautious," said a Paris-based banker who asked not to be named.

    While many market watchers agree L'Oreal and Total dominate the board, they also say their influence is on the wane.

    Both are looking to exit their stakes entirely. Total has said it will get out by 2012 and L'Oreal will exit if and when it finds a suitable acquisition.

    Total is already scaling back its presence and in July, 53-year-old Total Chief Financial Officer Patrick de la Chevardiere quietly resigned two years before his term expired.

    This leaves current Total Chairman Thierry Desmarest and former Total CFO Robert Castaigne on the board, but they too are likely to leave in coming years as Total exits its position.

    Jean-Francois Dehecq stepped down as Sanofi-Aventis chairman recently after building the company over the past 30 years. This leaves Serge Weinberg, ex-CEO of Fnac to Gucci group PPR, at the head of the board.

    Weinberg transformed PPR into a European luxury and retail giant, won a bidding war for Gucci then didn't blink when designer Tom Ford walked out the door after a contract dispute.

    "Weinberg is a powerful figure and well-connected. I think he will be a strong chairman of the board. But to me the major change is the departure of Dehecq. He created that company," said Reinhard Angelmar, a professor in marketing at INSEAD.

    Because of Dehecq's many mergers, he brought together a board in which six directors have significant experience in the pharmaceutical industry. Even Claudie Haignere, a former astronaut and a former minister in the French government, started her career as a physician.

    Still, Viehbacher said this week he believed Genzyme shareholders were willing to sell at a "reasonable price" -- indicating he may have enough headroom to strike a deal without too much boardroom wrangling.

    "The board may have set an upper limit on the Genzyme acquisition price," said Korine, the governance expert. "But they will have given Viehbacher sufficient headroom to do a deal. He would never have taken the job in the first place if he felt he was going to be pushed around."

    (Additional reporting by Leila Abboud and Caroline Jacobs; Editing by David Holmes)
  14. flosz 29 september 2010 10:51
    Sanofi’s Suspended Hepatitis Vaccine Protects Infants in Study
    Sanofi-Aventis SA’s Hexavac vaccine, suspended from the European market over concerns that its effects didn’t last, protected some infants from hepatitis B for at least five years after inoculation, a study found.
    Researchers from the University of Milan in Italy tested the blood of 1,543 children five years after vaccination with either Hexavac or GlaxoSmithKline Plc’s Infanrix Hexa.
    More than 90 percent of children in both groups who received a booster shot had a sufficient number of antibodies to fight infection, suggesting that immune systems in young children are able to recall responding to the initial inoculation years later, the researchers said in a study published today in The Lancet Infectious Diseases journal.
    The findings suggest that frequent booster shots aren’t needed, though further studies are required to see whether a booster is needed in adolescence or adulthood, according to the study, which was funded by the Italian government.
    European drug regulators suspended Hexavac in 2005 as a precautionary measure and asked Paris-based Sanofi to monitor whether some children need re-vaccination for hepatitis B. The viral infection of the liver, transmitted through bodily fluids including blood, can cause the organ to swell, sometimes causing significant damage, according to the U.K.’s National Health Service. Hexavac was designed to also protect against diphtheria, tetanus, whooping cough, polio and influenza type B.
    www.bloomberg.com/news/2010-09-28/san...

    **************************
    U.S. court invalidates Sanofi's Taxotere patents
    www.reuters.com/article/idUSN28209043...
    ******************

    Sanofi weighs higher Genzyme offer
    …. is "leaning toward" raising the $69-a-share offer by $1 or $2 a share
    www.reuters.com/article/idUSTRE68S0TX...
  15. [verwijderd] 29 september 2010 12:48
    Genzyme CEO Termeer Signals Possible Departure Date

    - Newspaper

    Last update: 9/29/2010 3:26:14 AM

    LONDON (Dow Jones)--Genzyme Corp.'s (GENZ) long-time Chief Executive Henri Termeer could step down next summer and ease a takeover of the U.S. biotechnology business by French drugs company Sanofi-Aventis SA (SNY), the Financial Times reports Wednesday.

    Termeer tells the the U.K. newspaper in an interview that he would be ready to retire following confirmation of late-stage trial results for Genzyme's Campath multiple sclerosis drug, due in mid-2011.

    Termeer, who has rejected a $69 a share offer from Sanofi that values Boston-based Genzyme at $18.5 billion, tells the newspaper he will not meet the French group's representatives or permit due diligence without a significantly higher bid.

    The paper says he indicated to it that a fairer valuation would be closer to Genzyme's share price of $80 before the 2008 financial crisis, despite Genzyme having suffered manufacturing problems since then.

    "We can very well operate independently. I'm not in any way offended [by the Sanofi-Aventis bid]. They have to recognise our value rather than be opportunistic," he's quoted as saying.

    Termeer says Genzyme's board has held no discussions with an alternative prospective buyer. "The company is recovering in a significant way, and pulling in value." He says that any bid should reflect that value plus a control premium.

    "It's not that complex an equation to figure out." The newspaper says Termeer suggested in the interview that he is ready to relinquish his executive role while remaining chairman in the event of a takeover.

    "This is a process, a dance. Chris [Viehabacher, head of Sanofi-Aventis] has indicated he's in no hurry and I'm not in a hurry."

    Newspaper Web site: www.ft.com

    -London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320 (END) Dow Jones Newswires

    September 29, 2010 03:26 ET (07:26 GMT)

    DRW
  16. forum rang 4 aossa 29 september 2010 14:39
    Sanofi unit to buy US biotech company

    Sanofi-Aventis SA says its vaccines business has agreed to buy Florida-based biotechnology company VaxDesign for about $60 million.

    VaxDesign is a privately held company based in Orlando that develops and markets an in-vitro model of the human immune system. Sanofi-Pasteur, the French company's vaccines arm, said Monday it plans to harness the technology.

    Sanofi Pasteur says it will make a $55 million upfront payment and provide an additional $5 million after VaxDesign achieves an unspecified development step.

    www.businessweek.com/ap/financialnews...
  18. forum rang 4 aossa 29 september 2010 15:39
    FACTBOX-Key facts about Sanofi, looking to buy Genzyme
    PARIS, Sept 29 (Reuters) - Sanofi-Aventis

    Below are some key facts about Sanofi, the world's fourth-largest drugmaker by sales according to IMS Health.

    HISTORY
    Sanofi-Aventis is the product of numerous mergers and acquisitions. It became the world's third-largest drugmaker in 2004 when Sanofi-Synthelabo -- formed by merging subsidiaries of Total (TOTF.PA) and L'Oreal (OREP.PA) in 1999 -- bought Aventis.

    Sanofi turned a page when it named Chris Viehbacher as chief executive at the end of 2008. He has been diversifying the group into areas like animal health and consumer health to deal with patent issues that will take out a third of sales between 2008 and 2013.

    STRATEGY
    Sanofi focuses on five growth platforms -- emerging markets, vaccines, diabetes, consumer healthcare and innovative products.

    Viehbacher has said Sanofi would hunt for deals of up to $20 billion and steer clear of mega-mergers.

    Sanofi has done more than 50 deals since 2009, spending about 9 billion euros on drug development deals and acquisitions. Several acquisitions added 339 million euros to 2009 sales and 372 million in this year's first half while expanded growth platforms are also helping to offset sales losses from patent issues.

    TOP PRODUCTS
    Name Disease 2009 sales in euros
    Lantus diabetes 3.080 bln
    Lovenox blood thinner 3.043 bln
    Plavix blood thinner 2.623 bln
    Taxotere cancer 2.177 bln
    Aprovel blood pressure 1.236 bln
    Eloxatin cancer 957 mln
    Multaq heart rhythm 25 mln*
    Vaccines 3.483 bln
    * Multaq has been flagged as a drug that could make at least $1 billion a year. It won U.S. marketing approval in July 2009.

    PATENT ISSUES
    About a third of Sanofi's 27.6 billion euro ($35.06 billion) sales in 2008 will be lost through to 2013 to patent issues.
    - Eloxatin - Sanofi reached a settlement in the United States with several generic drugmakers, like Sandoz (NOVN.VX) and Teva Pharmaceuticals (TEVA.TA) (TEVA.O), banning them from selling their version from June 30 this year until Aug. 9 2012.

    Generics of the colorectal cancer drug began arriving last year in Europe and the United States.

    - Lovenox - the bloodthinner's patents were no longer valid but until the FDA's approval of Sandoz's generic in July, its biological nature had shielded it from generics. Biotech drugs, based on living cells, are harder to copy than chemical drugs.

    - Plavix - the world's second biggest-selling drug already faced a setback in 2006 when Apotex briefly flooded the U.S. market with its copies but had to stop after a court order.

    In Europe, Plavix generics have been available since the second quarter of last year. The Plavix patent expires in May 2012 in the United States and in February 2013 in Europe.

    - Taxotere, which treats five cancer forms including breast cancer and non-small cell lung cancer, will lose its patent in November this year in the United States and Europe.

    - Blood pressure treatment Avapro will go off-patent in February 2012 in the United States and in August 2012 in Europe.

    - Sleeping pill Ambien CR lost its patent in March 2009.

    RECENT APPROVALS
    Prostate cancer treatment Jevtana was approved in June through a U.S. health regulator priority review.

    FDA PRIORITY STATUS
    - Sanofi Pasteur's dengue vaccine, to begin late stage trials end 2010, got U.S. priority review status in June.
    - BSI-201 which seeks to treat triple negative breast cancer, won fast-track status in December last year.

    RESEARCH AND DEVELOPMENT
    In 2009, Sanofi spent 4.6 billion euros on R&D. Sixty percent of the company's portfolio consists of biological products and vaccines, and more than half of its compounds are from external research, Sanofi said in its annual report.

    Sanofi has overhauled its drug pipeline, ditching about a quarter of its drugs and acquiring new ones. It has 52 drugs under development, of which 16 are in final clinical tests or have been submitted for marketing approval.

    It suffered a pipeline setback last week when Temusi or NV1FGF for limb ischemia failed in a late-stage trial. Sanofi said it is evaluating all options for the drug candidate.

    MAIN EVENTS THIS YEAR
    - Sanofi oncology and diabetes seminar on Sept. 30 in Paris.
    - Teriflunomide in multiple sclerosis -- Phase III data will be presented at the ECTRIMS in Gothenburg, Sweden, in October.
    - Oct. 28 quarterly earnings

    FINANCIAL OUTLOOK
    Even with patent issues hampering growth, Sanofi expects its sales and business earnings per share in 2013 to be at least at the same level as in 2008, excluding bolt-on acquisitions.

    For this year, Sanofi expects business EPS to drop by as much as 4 percent at constant exchange rates, taking into account Lovenox generics, U.S. healthcare reforms and government measures in Europe to contain public deficits.

    (Editing by David Cowell)

    www.reuters.com/article/idCNLDE6860BO...
  19. forum rang 10 voda 29 september 2010 20:46
    Sanofi-Aventis Said to Weigh Higher Takeover Bid for Genzyme
    By Albertina Torsoli, Jacqueline Simmons and Jeffrey McCracken - Sep 29, 2010 5:47 PM GMT+0200


    Play VideoSept. 29 (Bloomberg) -- Bloomberg's Deirdre Bolton reports on the latest breaking news and top stories in today's Business Briefs. (Source: Bloomberg)

    An increased bid would come after Sanofi Chief Executive Officer Chris Viehbacher, seen here, held meetings in the past month with Genzyme investors. Photographer: Nelson Ching/Bloomberg
    Sanofi-Aventis SA is weighing whether to make a sweetened takeover offer for Genzyme Corp. as soon as next week, said people with knowledge of the matter.

    France’s largest drugmaker is leaning toward raising the current $69-a-share offer by $1 or $2, said two of the people, who declined to be identified because the plans are private. Sanofi executives and top advisers will meet later this week to discuss how to proceed and a final decision hasn’t been made, one person said.

    Genzyme rejected Sanofi’s Aug. 29 offer, which valued the U.S. biotechnology company at $18.5 billion, as too low. Sanofi hasn’t ruled out making a hostile offer, though would prefer friendly negotiations with Cambridge, Massachusetts-based Genzyme, said the people. An increased bid would come after Sanofi Chief Executive Officer Chris Viehbacher held meetings in the past month with Genzyme investors.

    “Sanofi needs a bump to start talks,” said Amit Shabi, co-manager of Bernheim, Dreyfus & Co.’s Diva Synergy Fund, which owns Genzyme shares. He estimated that the company would have to raise the offer to $71 or $72 a share to get Genzyme to the negotiating table.

    Sanofi has the financing it needs for an offer, according to three people. The company lined up about $10 billion of loans from JPMorgan Chase & Co., BNP Paribas SA and Societe Generale SA. Citigroup Inc. and Bank of America Corp. are part of a secondary group in the lending syndicate, one person said.

    Jean-Marc Podvin, a spokesman for Paris-based Sanofi, said the company’s offer stands at $69 a share and otherwise declined to comment. Sanofi fell 38 cents, or 0.8 percent, to 49.47 euros at the 5:30 p.m. close of Paris trading. The stock has declined 10 percent this year.

    Genetic Diseases

    Genzyme is the world’s largest maker of medicines for genetic diseases. Its products are less likely to face generic competitors because they’re made from living cells and are harder to copy than traditional pills made from chemical compounds. The therapies are designated as orphan drugs by the U.S. Food and Drug Administration because they’re for diseases without other treatment options, giving them more patent protection.

    Chief Executive Officer Henri Termeer said last month that he was open to selling Genzyme at a “fair value,” higher than $69 a share. The company’s stock sank as much as 43 percent from a 2008 high after manufacturing glitches led to product shortages, making Genzyme vulnerable to a takeover offer and activist investors including billionaire Carl Icahn.

    Seeking Higher Bid

    Genzyme investors had been seeking at least $75 to $80 a share, based on potential revenue growth from experimental medicines and after production deficiencies responsible for drug shortages get resolved, said Shabi, the investor.

    John Lacey, a spokesman for Genzyme, declined to comment. Viehbacher said at a conference Sept. 15 that he had met with investors who own more than 50 percent of Genzyme and found they were willing to sell their shares at “a reasonable price.”

    Genzyme fell 19 cents, or 0.3 percent, to $71.31 at 11:45 a.m. New York time in Nasdaq Stock Market trading. The stock has closed above the value of Sanofi’s offer every day since the bid was made public Aug. 29.

    Viehbacher is seeking acquisitions to replace revenue Sanofi is losing as some of its biggest-selling products, such as the blood thinner Plavix and the cancer drug Taxotere, face competition from generic medicines. The French company can wring savings from Genzyme and improve its manufacturing operations, Viehbacher said at the Sept. 15 conference.

    Icahn engineered a sale of biotechnology company ImClone Systems Inc. to Indianapolis-based Eli Lilly & Co. for $70 a share in 2008 after a $62 hostile bid from Bristol-Myers Squibb Co., based in New York.

    “A serious offer is more likely to induce improved conversations,” Michael Yee, an analyst at RBC Capital Markets, said in an interview. He said Sanofi would need to boost its bid “into the $70s to get started.”

    To contact the reporter on this story: Jacqueline Simmons in Paris at jackiem@bloomberg.net; Jeffrey McCracken in New York at jmccracken3@bloomberg.net; Albertina Torsoli in Paris at atorsoli@bloomberg.net.

    To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net; Reg Gale at rgale5@bloomberg.net.

    www.bloomberg.com/news/2010-09-28/san...
  20. [verwijderd] 30 september 2010 12:43
    Covance and Sanofi-Aventis Sign Definitive Agreements for 10-Year Strategic R&D Alliance

    Last update: 9/30/2010 5:00:00 AM

    - Sanofi-Aventis Names Covance its R&D Partner as part of $2.2 Billion Agreement-

    - Covance to Acquire Porcheville, France and Alnwick, United Kingdom Sites

    - PRINCETON, N.J., Sept 30, 2010 /PRNewswire via COMTEX/

    -- Covance Inc. (CVD) today announced the signing of definitive agreements with sanofi-aventis for Covance to become sanofi-aventis' R&D partner. Over the next ten years, Covance expects to provide drug development services to sanofi-aventis, with estimated payments ranging from approximately $1.2 billion to $2.2 billion.

    Sanofi-aventis will sell their Porcheville, France and Alnwick, United Kingdom sites and facilities to Covance for approximately $25 million and Covance will maintain employment on these sites for at least the next five years.

    The transaction is expected to be completed before the end of the year. "A key strategy for sanofi-aventis is to transform its R&D model and discover new medicines through the use of novel technologies and innovative partnerships," declared Marc Cluzel, M.D., PhD, Executive Vice-President, Research & Development, sanofi-aventis. "This alliance with Covance will help us preserve hundreds of valuable jobs in Porcheville and Alnwick, while driving our R&D efficiency for the benefit of the patients."

    "We look forward to welcoming the world-class scientific talent in Porcheville and Alnwick to Covance, as well as adding state-of-the-art assets and new services to our portfolio," said Joe Herring, Covance Chairman and Chief Executive Officer. "Today's announcement represents another win-win solution to the R&D productivity challenges facing the pharmaceutical industry and provides Covance with a unique source of growth."

    Under the agreements, sanofi-aventis will utilize Covance's global R&D portfolio of discovery support, toxicology, chemistry, clinical Phase I - IV, central laboratory, and market access services with annual commitments for these services increasing over the next decade. These agreements include a 10-year sole-source relationship for central laboratory services.

    Covance will acquire CMC (Chemistry, Manufacturing and Controls) services with the addition of the Porcheville and Alnwick sites, including preformulation, drug formulation, preclinical and early-stage clinical API (Active Pharmaceutical Ingredient) manufacturing, and radiolabeled chemistry. Covance will host an investor teleconference and webcast today at 9:00 a.m. USA ET to discuss its strategic alliance with sanofi-aventis.

    The live investor call will be available via webcast at and by listen-only telephone: USA/Canada toll-free: 888-809-5987 or International: +1 719-325-2334 (participant code:7106804). An archived call will be available by the end of the day via webcast at and via telephone at USA/Canada toll free: 888-203-1112 or International: +1 719-457-0820 (participant code:7106804).

    DRW
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