Genzyme Pharmaceuticals is salivating
August 4, 2010 – 4:28 amHer niche business attracts the desires of the entire pharmaceutical sector. The U.S. biotech Genzyme specializes in proteins for treating rare diseases, is now the subject of a takeover by Sanofi Aventis, valued around $ 18.4 billion, or $ 69 per share. According to analysts, Pfizer is studying the issue, as well as Merck & Co, Roche or GlaxoSmithKline.
For these large companies, Genzyme is a solution to the challenge of patent expiry of their main drugs on the horizon 2001-2012. The drugs made by Genzyme are sold at high prices. "A personalized approach to health, combined with a duty of innovation are now a leading biotechnology company recognized worldwide," says besides the group on its website.
Genzyme also provides treatment in diseases such as kidney disease, cancer, transplantation, or diagnostic tests. All these drugs have a longer patent protection and higher prices than conventional products.
Under Attack
Since its inception in 1981 in Massachusetts, Genzyme has grown steadily. The group, which employs 12 No fax payday loans.000 employees worldwide, had in 2009 a turnover of 4.5 billion and a net profit of 422 million. Its market capitalization is around 18 billion dollars (13.8 billion euros).
But last year, the group also experienced problems with contamination on its biomanufacturing unit Allston, Boston, which has caused shortages of two of its best selling drug, Cerezyme and Fabrazyme. This situation has led to a fall of more than 12% of sales this second quarter 2010 to 1.08 billion dollars and who have left a rather low level of valuation and vulnerable to attack.
Sanofi-Aventis, which is clearly the objective of diversification, would be best placed to complete the purchase. The group has already announced Chris Viehbacher late June acquisition of U.S. biotechnology company specializing in oncology TargeGen for up to $ 560 million. By buying Genzyme, Sanofi pass up a gear, signing the agreement the largest in its history since its merger with Aventis in 2004.
ALSO READ:
"The laboratories are revolutionizing their R & D
AstraZeneca is reorganizing its research
Sorry, comments for this entry are closed at this time.