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Sunday, January 9, 2011

Sanofi says in talks with Genzyme over key drug, (SASY), (NASDAQ: GENZ)

French drugmaker Sanofi Aventis SA (SASY.PA) said on Sunday it was in discussions with U.S. bid target Genzyme Corp (GENZ.O) over ways to value a key Genzyme drug, but there was no guarantee an agreement would be reached. Sanofi has offered to acquire Genzyme, a maker of drugs for rare diseases, for $18.5 billion, or $69 a share -- a figure Genzyme says is too low. (Reporting by Ben Hirschler)