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Thursday, September 11, 2014

Sanofi aims to grow Genzyme unit with new drugs and acquisitions, (NYSE: SNY)

Sanofi rare disease unit Genzyme hopes to become a leader in the multiple sclerosis (MS) field with the help of new products developed in-house but also through acquisitions, senior Genzyme executives told Reuters.The Cambridge, Massachusetts company is confident in the commercial success of its two MS drugs Lemtrada and Aubagio and is "very active" in its hunt for external growth, Bill Sibold, the head of Genzyme's MS franchise, told Reuters.He failed to comment on potential targets but said Genzyme was looking to snap up truly innovative products, was regularly talking to other companies and constantly weighing its options.Asked if Genzyme had a budget for acquisitions or if "the sky's the limit", Sibold laughed and simply replied that it helped to be a part of Sanofi - a group with deep pockets: "If the opportunity is the right opportunity, we'll evaluate it... We're well resourced to execute our strategy."

Sanofi, formerly Sanofi-Aventis is a global and diversified healthcare company. Shares of SNY traded higher by 0.07% or $0.04/share to $55.84. In the past year, the shares have traded as low as $47.06 and as high as $56.00. On average, 1100830 shares of SNY exchange hands on a given day and today's volume is recorded at 1749181.