Genzyme touts value of alemtuzumab for MS in bid to get Sanofi to raise its hostile offer
Arguing the case for a higher valuation with regard to French drug major Sanofi-Aventis’ (Euronext: SAN) hostile $69 a share ($18.5 billion) takeover attempt, Genzyme (Nasdaq: GENZ) held an investor meeting yesterday stressing the significant market potential of its alemtuzumab in the treatment of multiple sclerosis. The alemtuzumab is already sold as a leukemia drug under the trade name Campath, but last year generated sales of just $150 million. Lemtrada has been selected as the trade name for MS.
During the two-hour presentation, the US biotech firm company presented internal market research and independent, third-party analysis defining the unmet needs today in MS, saying this research supports forecasts for alemtuzumab adoption and anticipated peak sales of $3.0 billion-3.5 billion with the added indication.
Contingent value rights plan mooted
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