Recent Event Highlights: AM Vitals: Sanofi-Aventis (Finally!) Will Buy Genzyme - Wall Street Journal (blog), Genzyme Q4 Profit Surges; Sees Double-digit Revenue Growth In FY11 - Update - RTT News, Deals of the Day: Sanofi Finally Seals Deal for Genzyme - Wall Street Journal (blog), SMARTREND WATCHING FOR POTENTIAL PULLBACK IN SHARES OF GENZYME AFTER 3.53 ... - Zacks.com, Stocks Set For Positive Open With Dell (DELL) and Genzyme (GENZ) On The Move - Market Intelligence Center, Stocks Headed Higher After Another Deal Making - ABC News, and 45 more...
Created by dipity on Feb 16, 2011
Last updated: 05/17/11 at 07:54 PM
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New York TimesAM Vitals: Sanofi-Aventis (Finally!) Will Buy GenzymeWall Street Journal (blog)After a months-long courtship, Sanofi-Aventis will buy Genzyme for $74 a share, plus the potential for additional payments if the Boston biotech's potential multiple sclerosis treatment — now approved only for a form of leukemia — meets certain sales ...IFR-Sanofi CDS Tightens On Genzyme DealReutersSanofi-Aventis to buy Genzyme for $20.1 bln cashHouston ChronicleGenzyme, Dell: Premarket TradingTheStreet.comCNNMoney -Bloomberg -The Business Insiderall 719 news articles »
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RTT NewsGenzyme Q4 Profit Surges; Sees Double-digit Revenue Growth In FY11 - UpdateRTT NewsExcluding the pharmaceuticals and cell therapy businesses, which Genzyme intends to divest, adjusted revenue for the quarter was $1.13 billion. Wall Street analysts estimated revenue of $1.17 billion. Genzyme's Chairman and CEO Henri Termeer stated, ...Genzyme Reports Financial Results for Fourth Quarter of 2010 and Full YearBusiness Wire (press release)GENZYME MISSED Q4 ESTIMATES BUT SAID RECOVERY CONTINUES WITH GROWTH ACROSS ALL ...Zacks.comGenzyme 4Q Profit Soars As Sales, Margins ImproveFox Businessall 8 news articles »
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Deals of the Day: Sanofi Finally Seals Deal for GenzymeWall Street Journal (blog)Genzyme-Sanofi: Sanofi-Aventis acquired Genzyme for $74 a share, or a total of $20.1 billion plus a contingent value right, in a giant step toward reshaping the company for future business. [WSJ] Deutsche Börse and NYSE Euronext: The exchanges outlined ...and more »
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SMARTREND WATCHING FOR POTENTIAL PULLBACK IN SHARES OF GENZYME AFTER 3.53 ...Zacks.comFeb 16, 2011 (SmarTrend(R) News Watch via COMTEX) -- Genzyme (NASDAQ:GENZ) traded in a range yesterday that spanned from a low of $71.72 to a high of $74.49. Yesterday, the shares gained 3.53%, which took the trading range above the 3-day high of ...Shares of Genzyme are Moving Higher on 1.7x Above-Average Volume (GENZ)Benzingaall 610 news articles »
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Stocks Set For Positive Open With Dell (DELL) and Genzyme (GENZ) On The MoveMarket Intelligence CenterStock futures are pointing to a stronger start for Wall Street this morning, keying on Genzyme (GENZ) agreeing to the terms of a long-awaited buyout as well as Dell (DELL) beating earnings expectations by a comfortable margin. Japanese stocks rose for ...Bulls Bid Futures HigherFox BusinessMinyanville's T3 Morning Market Call: Dell Earnings Propel Futures HigherMinyanville.comStocks To Watch For February 16 (GENZ, SNY, ADI, NVDA, DELL, FDO)BenzingaReuters -fox4kc.comall 18 news articles »
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ABC NewsStocks Headed Higher After Another Deal MakingABC NewsFrench drug maker Sanofi-Aventis on Wednesday agreed to buy Genzyme in an all-cash deal that values the US biotechnology company at $20.1 billion. The deal ends months of corporate haggling between the two companies. Genzyme shares rose about 2 percent ...and more »
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Amicus has sights on Genzyme rare disease patientsReutersNEW YORK (Reuters) - Amicus Therapeutics Inc is preparing to invade the rare disease space that has been dominated by Genzyme Corp, with an eye on taking significant market share. There may not be many patients with Fabry disease, ...and more »
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Biogen, Genzyme in Icahn's top three holdingsBoston Business JournalIcahn Capital LP has disclosed that Massachusetts-based biotechnology companies Genzyme Corp. (Nasdaq: GENZ) and Biogen Idec (Nasdaq:BIIB) are among the famed activist investor Carl Icahn's top holdings. As of the end of the fourth quarter of 2010, ...and more »
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...Sanofi withdraw its offer and consider making contact again in 2011. Oct. 4 - Viehbacher takes Sanofi's offer directly to Genzyme shareholders, in a tender to expire on Dec. 10. Oct. 22 - Genzyme hosts an investor meeting to explain why it's worth more than...
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http://us.mobile.reuters.com/article/mergersNews/idUSN1519571120110215?feedType=RSS&feedName=mergersNews
Q-Med settles with Genzyme in U.S. patent disputeReutersST) said on Tuesday it has settled a patent infringement dispute with US biotech firm Genzyme (GENZ.O) concerning Q-Med's US affiliate Medicis (MRX.N) and its anti-aging skin treatments. Q-Med said it would make a lump sum payment to Genzyme and that ...Genzyme wins patent settlementBizjournals.comQ-MED : AB, Medicis Pharmaceutical Corporation and Genzyme Corporation enter ...4-traders (press release)Q-Med AB, Medicis Pharmaceutical Corporation and Genzyme Corporation enter ...CisionWire (press release)all 9 news articles »
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New York Times (blog)Cohen's SAC Added to Apple, Genzyme Stakes in Fourth QuarterBloombergSteven A. Cohen's SAC Capital Advisors LP boosted its shares of Apple Inc. and Genzyme Corp., two of the top five companies owned by the hedge fund. SAC bought 553336 shares of Apple, ...Steve Cohen Buying Apple, Baker Hughes and Selling GE, BJs WholesaleWall Street Journal (blog)SAC Capital Ups Stakes Across Portfolio With Big Increases In Apple And HealthcareThe Business InsiderFund Flow Alert: Steve Cohen and SAC Capital's Newest PositionsWall St. Cheat SheetTheStreet.comall 28 news articles »
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...Corp. (Nasdaq: GENZ) announced Monday that the company has entered into an agreement with French pharmaceutical company Sanofi-aventis — not to buy the Cambridge, Mass.-based rare disease drug maker, but to allow Sanofi to conduct due diligence on Genzyme,...
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Boston Business Journal
http://feeds.bizjournals.com/~r/bizj_boston/~3/KIBFMC71B7U/genzyme-sanofi-talks-advance.html
ADRs of Sanofi-Aventis (SNY) are down after the drug maker reportedly extended the deadline for its hostile bid of Genzyme (GENZ) until Jan. 21. The original offer of $69 a share--or approximately $18.5 billion--was set to expire on Dec. 10. So far, Genzyme's management has rebuffed Sanofi's advances, saying the bid undervalues Genzyme, which has a stable of experimental drugs. Sanofi ADRs are down 0.03%, or $0.01, to $32.70. Genzyme shares are up 0.82%, or $0.57, to $70.39.
Cambridge, Mass., biotechnology company Genzyme (NASADQ:GENZ) has resumed shipping its Thyrogen cancer treatment again, following equipment issues triggered by a temporary shortage. Two other product's, Cerezyme and Fabrazyme, which are top sellers for the company, are recovering from shortages in supplies due to contamination-related shutdowns of the same plant last year located in Allston, Massachusetts. A Genzyme spokeswoman said the process of moving its fill and finish ops out of Allston, to an alternate facility operated by Hospira (NYSE:HSP) was on track to be completed by the month's end.
Sanofi-Aventis (NYSE:SNY) denied suggestion from Genzyme (NASDAQ:GENZ) that the French drugmaker offered a price range to acquire the US biotech firm. Genzyme said in a regulatory filing yesterday that Sanofi's CEO offered the possibility of paying as much as $80 per share for Genzyme, at a meeting on September 20th prior to taking its bid hostile. Sanofi chief spokesman Jean-Marc Podvin told Reuters. "We offered no price range and Genzyme continued to refuse to engage with us on discussions on valuations." The WSJ said Genzyme has begun evaluating its alternatives, including reaching out to other companies.
www.StockMarketFunding.com Genzyme (GENZ) Company Rejects Buyout Takeover Offer bid from Sanofi-Aventis SA. Genzyme Will Explore 'White Knight'. Genzyme Corp. will evaluate alternatives for the biotechnology firm, including reaching out to other companies, as part of its defense against an $18.5 billion hostile bid from Sanofi-Aventis SA, the company said Thursday. Genzyme isn't actively soliciting a "white knight" to counter Sanofi's offer, but the board wants thorough information about its value in the market and know what its options are, people familiar with the matter said. "The company board, in order to be fully informed about the company's value in comparison with the company's stand-alone strategic plan, has authorized the company's advisers and management to probe and evaluate lternatives for the company and its assets, which will include contacting third parties," Genzyme said in an SEC filing. "These probes do not constitute authorization of a process to sell the company or any of its assets." The filing also revealed for the first time that during a Sept. 20 meeting, Sanofi chief executive Chris Viehbacher offered Genzyme head Henri Termeer a range of $69 a share to $80 a share to open negotiations, which Mr. Termeer rejected.
$69 per share on Genzyme is obviously a lowball bid, comments analyst Mark Schoenebaum. Is Sanofi posturing, hoping for a higher bid? Most believe so and the controversy is on how high it will go. Genzyme is valued by some shareholders at $80-90 per share, but Mark believes most investors would be happy with an exit in the $75-80 range. Will Sanofi be willing to pay that much for an orphan drug company? What are the chances of another Pharma making a bid on Genzyme? Have shareholder activists (such as Carl Icahn) been helpful or harmful in the process?
"Sanofi-Aventis (NYSE:SNY) making a hostile $18.5 billion bid for Genzyme Corp. (NASDAQ:GENZ) on Monday. The tender offer for $69 per share comes after Sanofi's friendly takeover bid was rejected. Sanofi Aventis bid the same per share amount privately in July and announced the offer in August. Sanofi CEO Chris Viehbacher said he is confident the hostile bid will now succeed, and that Genzyme's refusal to work with Sanofi denies shareholders of a significant premium. The French drugmaker's hostile takeover attempt is the largest since 2008, when Roche Holdings acquired Genentech for $47 billion. Sanofi Aventis is trading down in France on the offer. SmarTrend is bullish on shares of Genzyme and our subscribers were alerted to buy on July 23, 2010 at $60.20. The stock has risen 17.8% since the alert was issued."
Officials from Genzyme Corp. (NASDAQ:GENZ) announced Monday morning that the company will sell off its genetics branch to Laboratory Corp. of America Holdings (NYSE:LH) in a cash deal worth $925 million, reports MarketWatch. Laboratory Corp. will buy Genzyme's technology, testing services, intellectual property rights, as well as its nine testing labs. said Genzyme officials in a statement, "LabCorp is committed to offer employment to the unit's approximately 1900 employees upon closing, including senior management," SmarTrend is bullish on shares of Genzyme and our subscribers were alerted to buy on July 23, 2010 at $60.20. The stock has risen 17.6% since the alert was issued.
Sanofi-Aventis (NYSE:SNY) could possibly raise its bid for Genzyme (NASDAQ:GENZ) according to a Dealbreaker report. The site is reporting that Sanofi-Aventis may raise its bid to $75 per share. SmarTrend is bullish on shares of Genzyme and our subscribers were alerted to buy on July 23, 2010 at $60.20. The stock has risen 17.2% since the alert was issued.
Genzyme's (NASDAQ:GENZ) CEO Henri Termeer said the company may consider a sale if the price was right, and that's not Sanofi-Aventis' (NYSE:SNY) $69 per share offer, apparently. Termeer said the company wasn't a ""fixer-upper,"" but a ""beachfront property."" He added that the situation with Sanofi may drag on for months and that other significant suitors may also step up to the plate. In the past, Termeer has said he would prefer the company he built remain independent, but he added that he had the fiduciary duty to consider proposals to buy Genzyme at a premium. SmarTrend is bullish on shares of Genzyme and our subscribers were alerted to buy on July 23, 2010 at $60.20. The stock has risen 16.5% since the alert was issued.
Sanofi-Aventis (NYSE:SNY) disclosed that it offered $18.5 billion, or $69.50 per share, in cash to acquire Genzyme (NASDAQ:GENZ) on July 29th, but was rejected. The bid was followed by, "several unsuccessful attempts" to discuss the bid with Genzyme management. According to the press release, the "transaction would help Genzyme achieve its vision of making a positive impact on the lives of people with serious diseases." Sanofi hinted that it make take it's bid hostile. Christopher A. Viehbacher, Chief Executive Officer of sanofi-aventis said, "A combination with Genzyme represents a compelling opportunity for both companies and our respective shareholders and is consistent with our sustainable growth strategy, Sanofi-aventis shares Genzyme's commitment to improving the lives of patients, and our global reach and resources can help the company better navigate the issues it faces today. The all-cash offer provides immediate and certain value for Genzyme shareholders at a substantial premium that recognizes the company's upside potential, while sanofi-aventis shareholders would benefit from the accretion and the attractive growth prospects of this combination. Now is the right time for Genzyme to consider a transaction that maximizes value for its shareholders. Sanofi-aventis believes strongly in this acquisition and its strategic and financial benefits. We remain focused on entering into constructive discussions with Genzyme in order to complete this transaction." SmarTrend ...
"Genzyme (NASDAQ:GENZ) shares are trading 1.30% lower at $66.41 as talks between the company and Sanofi-Aventis (NYSE:SNY) remain stalled as the two try to agree on a threshold price that would allow Sanofi to continue with due diligence. Sanofi shareholders have signaled that they are reluctant to see their offer rise too much to acquire Genzyme, which would be a strategic purchase to enhance its biopharmaceutical pipeline. Its initial bid of $69 per share has failed to convince Genzyme's board of directors. SmarTrend is bullish on shares of Genzyme andour subscribers were alerted to buy on July 23, 2010 at $60.20. The stock has risen 9.6% since the alert was issued. SmarTrend alerted subscribers to take profits in Sanofi-Aventis on July 30, 2010 at $29.00, since then the stock fell 2.5%. We are now watching for any positive developments that could result in a new uptrend signal."
Citing analysts and investors, Bloomberg reports that Sanofi-Aventis (SNY) will probably not raise its takeover offer for Genzyme (GENZ) or pursue a hostile takover amid renewed manufacturing concerns and the fact that competing bidders have failed to emerge. Genzyme said earlier this week that making necessary production changes could take as long as four years to complete, the report said. Genzyme shares are up 0.27%, or $0.18, to $66.34. Sanofi shares are down 1.65%, or $0.48, to $28.67.
Sanofi-Aventis's (SNY) rumored hostile bid for Genzyme Corp. (GENZ) is unlikely to take place because it wouldn't allow for a complete review of manufacturing changes made following a federal investigation, according to analysts. Genzyme had agreed in May to pay a $175 million fine to the US Food and Drug Administration after quality issues at one of its plants force its closure and subsequent drug rationing, Bloomberg reported. Sanofi shares are down 4.63%, or $1.42, to $29.26. Genzyme shares are down 1.28% to $66.96.
Genzyme (NASDAQ:GENZ) downgraded to Neutral from Overweight at Piper Jaffray. Thestock closed yesterday at $69.33 on volume of 4130900 shares, below average daily volume of 5758736. Genzyme is currently above its 50-day moving average of $54.77 and above its 200-day moving average of $53.30. SmarTrend is bullish on shares of GENZ and our subscribers received an Uptrend alert on July 23, 2010 at $60.20, which has returned 15.2% to date.
the Wall Street Journal reports that Sanofi-aventis (SNY) has entered into friendly takeover talks with Genzyme (GENZ) by sending a letter detailing its $69 per share offer for the company, the Wall Street Journal reports that Computer networks which control the electric grid are hampered by security problems that could allow intruders to redirect power delivery and steal data, the Energy Department warned in a recent report, Bloomberg reports that The Blackstone Group (BX) will buy a shopping mall in Hawaii with Glimcher Realty Trust (GRT) and a stake in a warehouse venture with ProLogis (PLD) for a combined $859M, and finally, the Telegraph reports that Xstrata (XSRAY) targets organic growth over acquisitions. In a move to grow organically rather than through acquisitions, Xstrata is reportedly planning to pump $5B into its mines.
Genzyme Corp. (NASDAQ:GENZ) was downgraded from Buy to Hold by Citigroup Inc. (NYSE:C) Monday morning. Citigroup, however, raised its target price on shares of the biotechnology firm from $64 to $76. SmarTrend is bullish on shares of Genzyme andour subscribers were alerted to buy on July 23, 2010 at $60.20; the stock has risen 15.6% since the alert was issued. Genzyme is currently above its 50-day moving average (MA) of $53.15 and above its 200-day of $53.03. In the last five trading sessions, the 50-day MA has climbed 3.39% while the 200-day MA has risen 0.57%. Shares of the company closed Friday's trading session at $69.56.
Genzyme Corp. (GENZ) spiked in early afternoon trading, up more than 17% in a burst of volume, on a report that Sanofi-Aventis (SNY) has ""informally"" expressed interest in acquiring the company. The Wall Street Journal report the development today in its online edition, citing unidentified sources familiar with the matter, who warned that the deal could fall apart. Sanofi-Aventis is down 4.63%.
Genzyme Corp. (NASDAQ:GENZ) said that it plans to buy back $1 billion of its stock under an accelerated share purchase program. The company plans to use proceeds from a recent debt offering to execute the first tranche of Genzyme's $2 billion share repurchase plan that was announced in May. As part of the program, Genzyme will pay $1 billion to Goldman Sachs (NYSE:GS) on June 22 in exchange for 15.5 million shares. "Our stock repurchase program is part of a comprehensive five-point plan to increase shareholder value," said Henri Termeer, Genzyme's chairman and chief executive officer. "This balanced plan also includes long-term drivers of sustainable growth, such as a focus on core businesses and executing on our important late-stage pipeline, while improving operating margins."
5/25/2010- Genzyme (NASDAQ:GENZ) shares are trading 6.06% higher at $51.42 after the FDA said that it approved its treatment for the rare genetic disorder Pompe disease, Lumizyme. Lumizyme is a version of the company's Pompe therapy Myozyme, which is in restricted supply due to issues at one of Genzyme's manufacturing facilities. The FDA said that Lumizyme will be manufactured at sites in Belgium and Ireland.
The company's product portfolio focuses on rare genetic disorders as well as kidney disease, cancer, and biosurgery. One of its main products, Cerezyme, is a leading (and pricey) treatment for Gaucher disease, a rare enzyme-deficiency condition. Founded in 1981, Genzyme also is involved in drug development, genetic testing, and other services. In addition, the company develops gene-based cancer diagnosis and treatment products, renal care and immunological therapies, and orthopedic surgery products. Genzyme's products are sold to healthcare professionals in some 100 countries through a specialized marketing force and wholesale distributors.
Genzyme Corp. (NASDAQ:GENZ) said Wednesday that it may have to pay a tentative penalty of $175 million for the quality-control issues at a manufacturing plant in Allston, Massachusetts. Genzyme also said that it may be forced to pay 18.5% of upcoming product sales from the Allston facility if production deadlines are missed. The company is still discussing details of the proposed penalty with the FDA, and expects the agreement to be finalized during Q2. Genzyme is trading up 2.44% at $54.89.
3/25/2010- Genzyme Corp. (NASDAQ:GENZ) was downgraded by JP Morgan to "underweight" from "neutral." The bank cited the company's announcement that the FDA will likely require it to hire third-party inspectors to monitor one of its key manufacturing plants. A broker said, "In our view, this is a materially negative development, and we find it highly unlikely that a company with a multi-year history of manufacturing non-compliance can quickly resolve the issues at hand."
2/23/2010-Tuesday, Carl Icahn confirmed his plans to nominate four directors to Genzyme's (NASDAQ:GENZ) board of directors, including himself, and said he plans to "fix what is broken" at the biotech company. During the fourth-quarter, Icahn more than tripled his holdings in Genzyme to 4.8 million shares, a 1.8% stake. Icahn said in a statement, "Given that Genzyme's management has performed so poorly in the past, our first task will be to attempt to help fix what is broken. We have heard from a number of shareholders that they have very little faith in the current board and believe that there should be a major shake-up in its composition."
Shares of Genzyme Corp. (NASDAQ:GENZ) are trading 0.3% lower to $55.80 Monday following reports that investor Carl C. Icahn will pursue a seat for himself and three of his associates on the board of the company. Some speculate the move could increase pressure on the company to sell itself or to dispose of some of its businesses. Henri A. Termeer, Genzyme's CEO, said in a statement, "Our actions demonstrate that we are open and responsive to shareholder input, and we welcome a constructive dialogue with Mr. Icahn." All nine Genzyme directors are up for election at the annual meeting in May.
Genzyme Pharmaceuticals LLC: Eichenweg 1, 4410 Liestal, SWITZERLAND Tel: +41-61-9065959 Email: Genzyme Pharmaceuticals is a business unit of Genzyme Corporation and a reliable custom manufacturer and service provider to the global pharmaceutical and biotech industries.
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RMJM early design proposals for the Genzyme research and development center in Beijing for Genzyme Corp., one of the worlds leading biotechnology companies.
Genzyme Shares Falling Over 5% Today After Halting Drug Production for Contamination (Bloomberg News)
Genzyme CEO Henri Termeer talks about the importance of passion as a motivator in the biotech industry: "If you're trying to make a buck, there are easier ways." From the 2009 Convergence Forum in Newport, RI. www.convergenceforum.com
Genzyme Corp. chairman and CEO Henri Termeer talks about opportunities in the BRIC countries (Brazil, Russia, India, and China). From the 2009 Convergence Forum in Newport, RI. www.convergenceforum.com
Interview with Chairman/CEO Henri Termeer (Bloomberg News)
Autologous Chondrocyte Implantation, also known as the Genzyme Procedure is a technique for regrowing cartilage in the knee. In this Video, Dr Jeffrey Halbrecht, a knee surgeon and Sports Medicine Specialist from San Francisco performs a cartilage resurfacing for a large cartilage defect of the knee in a young athlete.
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...months of 2008. Synvisc has been used to treat more than 5 million knees in the United States since its approval in 1997, Genzyme said. It is approved for patients who do not respond to conservative non-drug therapy and simple analgesics such as acetaminophen. ...
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Reuters Alert Net
http://www.alertnet.org/thenews/newsdesk/N09275688.htm
Genzyme Sepra Mesh
For more science and tech videos, go to www.wsj.com/video. Rich Gregory, Genzyme's head of research, explains to MarketWatch's Val Kennedy the rationale behind the biotech leader's push to go green in its research and development activities. (Nov. 20)
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