Carl Icahn has cashed in his Genzyme chips and evidently gone looking for another game. After arousing intense speculation last year that he would pull an Icahn and shake up Genzyme with big demands and blistering criticism--as he had at ImClone [1] and other biotechs [2]--Icahn sold his shares in late December. Genzyme CEO Henri Termeer (photo [3]) may have persuaded Icahn to take the money and run after publicly vowing to resist any effort to make him sell or break up the aggressive developer. "We have pioneered very important therapies and that is what we want to continue to do," he told the hometown Boston Globe late last year.
Of course, whatever his long-range goals may have been, Icahn still came out well ahead. Genzyme stock had shot up 20 percent when he cashed out its 1.5 million shares.
- check out this article [4] for more
Related Articles:
Icahn: Biotechs must merge with Big Pharma. Report [5]
Is Carl Icahn out to buy Genzyme? Report [6]
Who's next on the biotech buyout hit list? Report [7]
Boston officials herald big Genzyme expansion. Report [8]
Links:
[1] http://www.fiercebiotech.com/story/icahn-takes-control-of-imclone-as-ceo-departs/2006-10-25
[2] http://www.fiercebiotech.com/story/icahn-aims-biogen-control/2008-01-29
[3] http://www.fiercebiotech.com/pages/genzyme-ceo-henri-termeer
[4] http://www.boston.com/business/healthcare/articles/2008/02/15/icahn_sold_genzyme_stake_when_prices_rose/
[5] http://www.fiercebiotech.com/story/genzyme-buyouts-thanks-no-thanks/2007-12-06
[6] http://www.fiercebiotech.com/story/carl-icahn-out-buy-genzyme/2007-11-15
[7] http://www.fiercebiotech.com/story/whos-next-biotech-buyout-hit-list/2007-10-16
[8] http://www.fiercebiotech.com/story/boston-officials-herald-big-genzyme-expansion/2007-09-18