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Sanofi says didn't offer more for Genzyme


Sanofi says didn't offer more for Genzyme


Sanofi-Aventis has strongly denied it has ever offered a higher price for the US biotech firm Genzyme.

Genzyme has said the chief executive of the French pharmaceuticals giant floated the possibility of paying as much as $80 a share at a meeting in September.

Sanofi’s offer in its hostile takeover bid is $69 a share.

Analysts say Sanofi will almost certainly have to raise its bid.

Investors obviously think there will a higher offer as Genzyme’s shares have been above $73.

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