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Sunday, September 14, 2014
Sanofi aims to grow Genzyme unit with new drugs and acquisitions
By Natalie HuetSeptember 13, 2014 1:23 PM
By Natalie Huet
PARIS (Reuters) - (This story corrects the Sept.11 story. In the 10th paragraph, the quote should be attributed to Bill Sibold, not Mike Panzara)
Sanofi rare disease unit Genzyme hopes to become a leader in the multiple sclerosis (MS) field with the help of new products developed in-house but also through acquisitions, senior Genzyme executives told Reuters.
The Cambridge, Massachusetts company is confident in the commercial success of its two MS drugs Lemtrada and Aubagio and is "very active" in its hunt for external growth, Bill Sibold, the head of Genzyme's MS franchise, told Reuters.
He declined to comment on potential targets but said Genzyme was looking to snap up truly innovative products, was regularly talking to other companies and constantly weighing its options.
Asked if Genzyme had a budget for acquisitions or if "the sky's the limit", Sibold laughed and simply replied that it helped to be a part of Sanofi - a group with deep pockets: "If the opportunity is the right opportunity, we'll evaluate it... We're well resourced to execute our strategy."
Pricing pressures from cash-strapped governments seeking to restrict healthcare spending and tough competition from generics have prompted drugmakers worldwide to reshuffle their businesses and triggered a wave of mergers and acquisitions.
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