With gene testing all the rage, the two biggest makers of DNA sequencing equipment are about to snap up smaller players in an attempt to stake out a market expected to reach $8 billion by 2014 and $25 billion within a decade.
Onyx Pharmaceuticals Inc., which surged to a record last week, is poised to hand shareholders 40 percent more after a regulatory panel’s support for a cancer treatment heightened its allure as a takeover target.
Henri Termeer , a biotech industry pioneer and chief executive officer at Genzyme Corp ., is on the verge of losing control of the company he transformed from a start-up in 1983 into a cutting-edge drugmaker with $4.5 billion in annual sales.
Sanofi-Aventis SA is unwilling to pay more than $70 a share for Genzyme Corp. and may consider alternative takeover targets should the transaction fail, according to three people with knowledge of the matter.
Sanofi-Aventis SA is unlikely to raise its takeover offer for Genzyme Corp. or make a hostile approach as manufacturing concerns linger and competing bidders have failed to emerge, analysts and investors said.
Genzyme Corp. , the world’s largest maker of medicines for genetic diseases, has begun takeover talks with Sanofi-Aventis SA after receiving a proposal from the French drugmaker, according to two people with knowledge of the matter.
Sanofi-Aventis SA may have to pay at least $80 a share, or $21.3 billion, to acquire genetic-disease drugmaker Genzyme Corp. as activist directors drive up the price, investors in the U.S. biotechnology company say.
Genzyme Corp. may take three to four years to complete changes requested by U.S. regulators after a plant contamination, a process critical to buyout talks with French drugmaker Sanofi-Aventis SA , analysts said.