Sanofi, Genzyme In New Deal Talks

Sanofi-Aventis is in talks with Genzyme about possibly using contingent value rights to boost its current offer for the biopharmaceutical company.

Sanofi-Aventis is in talks with Genzyme about possibly using contingent value rights (CVRs) to boost its current offer for the biopharmaceutical company, The Wall Street Journal reports. Until now, Sanofi has bid $69 a share, or $18.5 billion, for Genzyme

Financial advisers for the companies are discussing the value of a CVR that would take the total Genzyme offer to around $80 per share, valuing the company at $20.7 billion. The CVR would be largely tied to the performance of a Genzyme drug used to treat leukemia, Campath.

Click here for the story from The Wall Street Journal.