January 10, 2011 08:14 AM Eastern Time
Genzyme Statement on Discussions With Sanofi-Aventis
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Genzyme
Corp. (NASDAQ: GENZ) reported today that discussions between its
financial advisors and financial advisors for Sanofi-Aventis are
continuing and have expanded to include representatives of both
companies. These discussions have focused on potential terms for a
negotiated transaction and have included the possible use of a
contingent value right relating to alemtuzumab as part of any potential
resolution of differences with respect to value.
Genzyme can provide no assurance that these discussions will continue or
will result in a transaction. It also can provide no assurance of the
terms that may be obtained in any such transaction.
One of the world's leading biotechnology companies, Genzyme is dedicated
to making a major positive impact on the lives of people with serious
diseases. Since 1981, the company has grown from a small start-up to a
diversified enterprise with approximately 10,000 employees in locations
spanning the globe and 2009 revenues of $4.5 billion. In 2010, Genzyme
was named to the Fortune 500.
With many established products and services helping patients in 100
countries, Genzyme is a leader in the effort to develop and apply the
most advanced technologies in the life sciences. The company's products
and services are focused on rare inherited disorders, kidney disease,
orthopaedics, cancer, transplant, and immune disease. Genzyme's
commitment to innovation continues today with a substantial development
program focused on these fields, as well as cardiovascular disease,
neurodegenerative diseases, and other areas of unmet medical need.
Genzyme has filed with the Securities and Exchange Commission a
Solicitation/Recommendation Statement on Schedule 14D-9 relating to the
tender offer by Sanofi-Aventis. Genzyme shareholders are advised to read
the company's Solicitation/Recommendation Statement on Schedule 14D-9
because it contains important information. Shareholders may obtain a
free copy of the Solicitation/Recommendation Statement on Schedule
14D-9, as well as any other documents filed by Genzyme in connection
with the tender offer, free of charge at the SEC's website at http://www.sec.gov.
In addition, investors can obtain free copies of these documents from
Genzyme by directing a request to Genzyme at 500 Kendall Street,
Cambridge, MA 02142, Attention: Shareholder Relations Department, or by
calling 617-252-7500 and asking for the Shareholder Relations Department.
Genzyme’s press releases and other company information are available at www.genzyme.com
and by calling Genzyme’s investor information line at 1-800-905-4369
within the United States or 1-678-999-4572 outside the United States.