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.
Sanofi-Aventis SA ’s Chief Executive Officer Chris Viehbacher took his case for a takeover directly to Genzyme Corp.’s investors in meetings in New York yesterday, according to two people who attended.