Genzyme Corp (GENZ.O) Chief Executive Officer Henri Termeer said he expects a deal with French drugmaker Sanofi-Aventis (SASY.PA) "will work itself out." Genzyme is the target of an $18.5 billion hostile bid from Sanofi, although the two sides confirmed recently they were in discussions. Termeer, speaking at the Greater Boston Chamber of Commerce on Wednesday, said Sanofi's approach is "very honest" and "a great compliment." "Both sides have said it will take some time" to understand the value, the CEO said.
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