Sanofi-Aventis (SASY.PA) reported progress in talks to buy U.S. biotech Genzyme (GENZ.O) and predicted 5-10 percent lower earnings in 2011, underscoring the French drugmaker's need to find new sources of revenue growth. Shares in the company fell 1.6 percent as Chief Executive Chris Viehbacher gave very little away about talks to complete a takeover deal expected to be worth approximately $20 billion, designed to rejuvenate the company's product line. "As we announced about 10 days ago, we have signed a confidentiality agreement with Genzyme," Viehbacher said in a media conference call on Wednesday.
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