The agreement should be announced this morning

Sanofi-Aventis will not need a third time to extend its offer on Genzyme. While the proposal to purchase launched October 4 expired yesterday evening at midnight, New York City time, HABs champion of pharmacy would be reached an agreement in principle with the society of biotechnology in Cambridge (Massachusetts), according to Reuters. The group led by Chris Viehbacher will pay $ 74 cash per share Genzyme. A total of 19.2 billion (EUR 14.2 billion) to the number one world of rare diseases. The agreement should be announced this morning.

This offer is improved significantly from 69 dollars proposed formally in autumn (but made public as early as the end of August). So the 19.2 billion would add a certificate of conditional value (CVC) on future sales of alemtuzumab, a molecule currently used as anti-cancer drugs under the brand name Campath but may give good results in multiple sclerosis. Named "lemtrada" in this pathology, it has been the main sticking point in negotiations between the two groups.

While Genzyme product sees annual sales potential that can go up to $ 3.5 billion, the group led by Chris Viehbacher is store rather on forecasts of analysts, who expect to 700 million. "In the end, the HVAC can be listed in." In this case, it is not necessary that the forecasts of the two parties are converging response is given by the market. "Most of the shareholders of Genzyme being Americans, it is logical that the CVC on which we work is rated in the United States," explained the month last Chris Viehbacher to "echoes".

The first contacts between Sanofi-Aventis and Genzyme back in May. It therefore took nine months for the two companies to get an offer hostile to a marriage by mutual consent. Genzyme has long resisted, believing that the proposed price was very far from representing the value of the company. With Sanofi, the idea was not paying too expensive a company management time challenged by Shareholder activists (including Carl Icahn) and mired in production problems which were heavily weighed on its course of scholarship.

But market observers, the interest of reconciliation was obvious. Henri Termeer, the iconic pattern of the biotech, could not slamming the door in the face of HABs champion of Pharmacy at the risk of Genzyme stock price fell under $ 50. Group Outlook investors in Massachusetts only a virus. And last month, Genzyme has revised downward its forecast profit for 2011, because including sales lower than expected of Cerezyme, treatment of Gaucher disease. The American Group should present its results 2010 today.

For Sanofi-Aventis, there an urgent need to replenish its product portfolio. As the other "big pharma", the group is facing the expiry of the patents of several of its key drugs, Ambien, Lovenox and Taxotere for example, which shows sales of at least 25 in the medium term. By 2013, Genzyme will make him the Mipomersen, against the excess of cholesterol to be genetic, and Eliglustat, the first oral treatment against Gaucher disease. What catch quickly its in biotechnology.