Viehbacher hits out at Genzyme's "lack of realism"
This article was originally published in Scrip
Executive Summary
Sanofi-Aventis's CEO Christopher Viehbacher has launched a scathing attack on Genzyme's repeated claims that the French firm's bid undervalued the biotech company and once again refused to raise his $69 per share offer. The pharma chief said that he "hadn't heard anything of substance that would cause [Sanofi-Aventis] to change its offer". However, declining third quarter sales figures may underscore the French giant's need to supplement its business, even if they undermine its ability to pay for the acquisition.