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Sanofi ups its bid to buy Genzyme

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Sanofi ups its bid to buy Genzyme

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French pharmaceuticals group Sanofi-Aventis has made a new bid to buy US biotech company Genzyme. Sanofi is offering 71 dollars a share, or just over 55 euros. That is two dollars a share more than an offer Sanofi made last month. It hopes the new valuation will be enough to get Genzyme to open its books as part of “partial due diligence.”