Genzyme courting ‘white knight’ bid from Takeda
pharmafile | November 18, 2010 | News story | Manufacturing and Production, Research and Development, Sales and Marketing | Genzyme, Sanofi, Sanofi-Aventis, Takeda, pharma mergers
Genzyme is in talks with Takeda to secure a ‘white knight’ bid that would prevent Sanofi-Aventis from taking over the company, according to reports.
The Mail on Sunday said the Japanese pharma firm could pay $82 a share, a much higher premium than the $69 a share Sanofi has had on the table since July.
If it can secure a deal the move would allow Takeda to expand its business in the US, the world’s largest pharma market, but Credit Suisse Group analyst Fumiyoshi Sakai questioned how well the companies would fit together.
He told Bloomberg: “Genzyme makes treatments for rare diseases, which is different from the area of focus of Takeda.
“It’s not impossible for Takeda to finance the acquisition, but it doesn’t strengthen Takeda’s pipeline.”
The report also linked GlaxoSmithKline, Pfizer and Lilly to Genzyme.
Takeda currently targets cancer, metabolic diseases and central nervous system ailments such as Alzheimer’s disease and Parkinson’s disease for drug development.
Its biggest earner is the type II diabetes drug Actos, but it is now facing generic competition and a merger could help the Japanese pharma offset this loss long-term.
Genzyme is attractive target for pharma companies because its products for rare and genetic diseases are made using biological processes that are difficult for generic competitors to replicate, making them less susceptible to patent cliffs.
A number of its products have also been designated orphan drugs, which gives them an extra measure of patent protection.
The US biotech has suffered manufacturing contamination problems that have caused the shutdown of its main production facility, but it has been touting a recent turnaround, buoyed by the potential success of its leukemia drug Campath, which Genzyme hopes will be effective in treating multiple sclerosis.
Ben Adams
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