Genzyme chief executive Henri Termeer is due to take in $158.4 million from French drug giant Sanofi-Aventis’s buyout of his Cambridge, MA-based biotech firm, Bloomberg reported. Termeer is also eligible for up to $62.8 million from contingent value rights payments if Genzyme products such as the experimental multiple sclerosis drug alemtuzumab (Lemtrada) meet all performance goals set in the buyout agreement with Sanofi in February, according to Bloomberg. (Read our related coverage about how Sanofi’s $20.1 billion buyout of Genzyme could benefit the rare disease drug market, which Termeer and his colleagues pioneered with ultra-expensive drugs for small groups of patients.
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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