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Wednesday, February 16, 2011

Sanofi wins Genzyme for $20 bln plus payout right, (SASY), (NASDAQ: GENZ)

French drugmaker Sanofi-Aventis (SASY.PA) has agreed to buy Genzyme Corp (GENZ.O) for $20.1 billion in cash, plus payments tied to the success of the company's drugs, the companies said on Wednesday. Sanofi will pay $74 a share in cash and a contingent value right for the U.S. biotechnology company. The CVR is a tradable right to additional payments if Genzyme's multiple sclerosis drug, Lemtrada, reaches regulatory and sales targets or 2011 production volumes of Cerezyme and Fabrazyme are achieved.