Sanofi-Aventis launches bid for Genzyme
French pharmaceutical giant Sanofi-Aventis has launched a hostile $18.5 billion bid for US biotechnology company Genzyme, a proposal Genzyme management spurned in late August.
Sanofi-Aventis , the largest French pharmaceutical producer, said on Monday that it extended its offer to buy US biotechnology group Genzyme shares to April.