Cambridge, MA-based biotech drug maker Genzyme (NASDAQ:[[ticker:GENZ]]) and its big pharma suitor, Sanofi-Aventis, are still far apart on price. Paris-based Sanofi said today that it is extending its tender offer of $69 per share or $18.5 billion for Genzyme until just before midnight on February 15. The previous offer deadline expired on Friday. Sanofi so far has not upped its offer since its pursuit of Genzyme began during the summer. And the French drugmaker says that, though it is in talks with Genzyme, “there remain significant differences” between what Genzyme thinks it is worth and Sanofi’s offer.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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