Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Genzyme To Acquire Partner Bioenvision

June 4, 2007 | A version of this story appeared in Volume 85, Issue 23

Genzyme has agreed to pay $345 million for Bioenvision, a New York City-based firm that buys and develops cancer drugs and anti-infective technologies. The companies previously partnered to market clofarabine, which is approved in the U.S. and Europe to treat a type of leukemia. Bioenvision's portfolio also includes Modrenal, a breast cancer drug, and a pipeline of drugs to treat autoimmune and infectious diseases. The deal has been approved by Bioenvision's board, and Genzyme expects to complete it in July. However, SCO Capital Partners, owner of a 13.4% stake in Bioenvision, reportedly opposes the purchase on the grounds that it undervalues the firm.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.