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news.Sanofi-aventis has acquired Genzyme after the completion of a subsequent offering period relating to sanofi-aventis' exchange offer to acquire all of Genzyme's outstanding shares of common stock for $74 in cash and one contingent value right (CVR) per share.
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The CVR entitles Sanofi-aventis to receive additional cash payments if specified milestones related to Lemtrada (alemtuzumab MS) are achieved over time or a milestone related to production volumes in 2011 for Cerezyme and Fabrazyme is achieved.
Genzyme will become an important new platform in sanofi-aventis’ growth strategy and expand the company’s presence in biotechnology.
Sanofi-aventis is making Genzyme its global center for excellence in rare diseases, headquartered in Cambridge, Massachusetts, and will be led by Christopher Viehbacher, sanofi-aventis’ CEO.