More talk, no action in Genzyme-Sanofi standoff

Genzyme executives may be feeling nauseous every time they ponder Sanofi-Aventis's $18.5 billion offer for the company, but the pharma giant's CFO views the bid as quite "compelling." "Our price is a very good price, compelling," said Jerome Contamine. The CFO also told Reuters that the use of a contingent value right--laying out milestones based on future performance of experimental products like Campath--was "in principle" an interesting way to bridge differences between two parties. But he declined the chance to discuss how a CVR could be used to nail a deal with Genzyme. That leaves both sides continuing to play High Noon, as each waits to see how this standoff will play out. Story

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