Want to know what's happening next in healthcare?

MedCityNews is the leading online news source for the business of innovation in healthcare.


“MedCity is invaluable among the many sources of industry reporting because the team endeavor to bring the truly new, and innovative opportunities and developments to light.”

Ken Kirby, President, Transdermal Delivery Solutions Corp


Sign up for our daily newsletter


Sanofi to buy back Genzyme-linked CVRs for $70 million

October 8, 2012 6:20 am by | 0 Comments

PARIS (Reuters) - French drugmaker Sanofi said on Monday it will buy back certificates related to the success of Genzyme drugs for a total cost of about $70 million, representing $1.75 per contingent value right (CVR).

Sanofi said last month it would buy back up to $152 million worth of the outstanding CVRs, which are linked to its 2011 purchase of U.S. biotech Genzyme. It said then it would pay between $1.50 and $1.

(Editing by Christian Plumb)

Copyright 2014 MedCity News. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
0 comments