French drugmaker Sanofi-Aventis (SASY.PA) reported progress in talks to buy U.S. biotech firm (GENZ.O) as it predicted 5-10 percent lower earnings this year due to increased competition from generic drugs. "As we announced about 10 days ago, we have signed a confidentiality agreement with Genzyme," Chief Executive Chris Viehbacher said in a media conference call. "We continue to review non-public information. Talks are progressing and we'll keep you updated," he added.
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