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July 27, 2010
Genzyme Telling Sanofi-Aventis to Buzz Off?
Posted by Derek
That's what Bloomberg is reporting. Meanwhile, the Wall Street Journal reported that GlaxoSmithKline has expressed interest in the recent past, and that J&J might get involved as well. If a deal goes through, no matter who ends up making it, it'll be a lot more expensive than it looked like being. But isn't that ever the way in M&A? The problem is, everyone except the buyer has a great interest in seeing things go off at the highest possible price.
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1. Old Timer on July 27, 2010 9:44 AM writes...
Great for Genzyme shareholders if they can get GSK to grab the dangling bait. Witty is willing to overpay for any biotech that grabs his fancy, as he IS AN EXPERT. Also good for Genzyme management and employees, as the biotech's people will be integrated into the more traditional R&D business since they know better the workings of the new world order (despite having had to sell themselves), the Cambridge site would be left intact as an independent DPU, with cost savings being absorbed from GSK's traditional small molecule areas and core R&D sites. What you say? Who needs chemists?
Sorry GSKers, but this would only trigger another yearly "adjustment" coming from the stability promised from your 3-year funding cycle.
Permalink to Comment2. Hap on July 27, 2010 10:15 AM writes...
This seems way too much like a page out of Atlas Shrugged to be of any particular comfort.
Permalink to Comment3. DannoH on July 27, 2010 12:13 PM writes...
Its similar to Sanofi-Aventis telling FDA to buzz off. Lets see how well that works out when SA gets their next few general inspections from CBER.
Permalink to Comment4. Hap on July 28, 2010 8:58 AM writes...
...except Genzyme doesn't need S-A - they want their money, but GSK's money is just as good (well, if there's enough of it) or J+J's. On the other hand, if you can't sell product in your biggest market, you're SOL.
I think the FDA has a little more leverage over S-A than S-A has over Genzyme at this point.
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