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January 8, 2010
Carl Icahn Going For Genzyme?
Posted by Derek
That's what the folks at Fierce Biotech are saying. No doubt he sees an opening, given the company's current manufacturing troubles, and is planning to give them the same treatment he's been giving Biogen, just down the road. There are quite a few glossy condominium units available in Cambridge these days; maybe Icahn should buy one as a pied-a-terre if he's going to keep this stuff up.
But I hope that he doesn't. While I agree that it's worth having some corporate raiders around to keep companies on their toes, I think the nature of the biotech industry keeps things lively enough already. I tend to agree with Schumpeter's ideas about "creative destruction", but I worry that Icahn slips too often over to the "noncreative but lucrative" end of the destruction scale.
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1. anchor on January 8, 2010 10:00 AM writes...
Well said. We know form the past that as a board member, he can really create a havoc for the company as a whole, with little or no visibility to innocent outsiders. Genzyme is under lot of pressure (Pfizer, FDA) and at this point in time they do not Mr. Ichan. He is an opportunistic investor, who brings only harm.
Permalink to Comment2. Hap on January 8, 2010 12:33 PM writes...
Viruses don't infect organisms because the organisms need viruses, but because the viruses need material and energy to survive and thrive - the effect on the organism (or its willingness to host them) is secondary to their well-being, and irrelevant to their decisions.
I think a book discussing the current pharma business environment should be called "Cannibalism for Fun and Profit".
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