BMS sources discount chance of Sanofi buyout

Dow Jones is quoting sources close to Bristol-Myers Squibb who say that a buyout by Sanofi-Aventis is not in the cards. BMS is betting on its pipeline for its future expansion, says the source. The possibility of a tie-up has caused considerable buzz in the M&A field, especially as Sanofi-Aventis has indicated its interest in snapping up a pharma and biotech company. A deal between BMS and Sanofi looked particularly compelling because it would have expanded the French company's U.S. reach while advancing relations between two companies with a long history of collaborating on drug projects. One of those projects includes the blockbuster Plavix, which was the subject of a closely watched patent lawsuit and will remain under patent protection until 2011.

- check out the CNN report

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