August 30, 2006
Genzyme makes $380 mil. second offer to buy AnorMED
By Joe Beaulieu
Biotech giant Genzyme Corp. in Cambridge has offered for a second time to acquire AnorMED Inc. in Langley, British Columbia, in a deal valued at $380 million. The proposed all-cash offer would give Genzyme the rights to AnorMED's Mozobil, a therapy with the potential to improve the success rate of stem cell transplants, and enlarge the pool of transplant candidates. Mozobil -- already granted orphan drug status by the FDA and its European equivalent -- is enrolled in phase 3 trials for both multiple myeloma and non-Hodgkin's lymphoma. CEO Henri A. Termeer says Genzyme, which specializes in producing so-called orphan drugs used to treat rare diseases, is "uniquely positioned to ensure Mozobil reaches its full global potential." Genzyme has been in acquisition talks with AnorMED since October 2005, and in April made the first acquisition offer for the same proposed price of $8.55 per AnorMED share. AnorMED has 35 days to accept the offer. Genzyme has a significant presence in Framingham and Westboro.
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