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Business

Genzyme Wins fight for AnorMED

October 23, 2006 | APPEARED IN VOLUME 84, ISSUE 43

Ending a takeover fight, Genzyme will acquire AnorMED for $13.50 per share, or about $580 million. Genzyme bid $355 million for AnorMED at the end of August but was rejected by the Canadian biotech firm. Millennium Pharmaceuticals later stepped in with an offer of $515 million. After Genzyme revised its offer, Millennium withdrew from bidding. Both firms are interested in AnorMED's Mozobil, a hematology-oncology therapy now in Phase III clinical trials.

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