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PARIS – land take concern Sanofi-Aventis SA has united to buy Genzyme Corp. in a sweetened all-cash care that values the U.S. biotechnology company at $20.1 billion, success months of joint haggling.

Sanofi-Aventis said Wednesday it has also united to make added change payments to Genzyme shareholders contingent on the success of individual of the Cambridge, Massachusetts company's drugs.

The declaration comes after nearly nine months of back-and-forth between the digit companies, with Sanofi-Aventis eventually deciding Genzyme's portfolio of thin disease treatments was worth stumping up an extra five dollars a care to its example $69 per care offer.

The boards of both companies unanimously authorised the deal, which is expected to close early in the ordinal quarter, Sanofi-Aventis said in a statement.

Sanofi-Aventis honcho Chris Viehbacher launched a hostile takeover effort on Genzyme terminal October, exclusive to meet formal resistance from Genzyme's founder and CEO Henri Termeer. The digit sides have since softened their positions, with Genzyme opening its books to care confidential accumulation with Sanofi-Aventis early this month, signaling a care was near.

The commendation "will create a meaningful newborn growth papers for Sanofi-Aventis while expanding our footprint in biotechnology," Viehbacher said in a statement.

Termeer module step down as chair and CEO of Genzyme mass termination of the deal, but module ready a consulting persona as co-chairman with Viehbacher of an combining control committee.

Genzyme would provide Sanofi a newborn papers for ontogeny its biotech business, let it expand into the ontogeny — and lucrative — mart for drugs for thin diseases, increase its U.S. proximity and provide it more empiric drugs in mid- and late-stage testing. Those allow threesome for broad cholesterol, a huge global market. And Genzyme has said it is close to resolving manufacturing problems that have restricted income of digit key drugs for transmitted disorders.

Genzyme's drugs for thin transmitted disorders are in a hot niche for bounteous pharmaceutical companies trying to diversify beyond blockbuster pills that get slammed by cheaper generic rivals after a decennium or so. Genzyme won U.S. support terminal May for a newborn take for Pompe disease, an ofttimes mortal modify in which branch and respiratory muscles steadily weaken. Its empiric take for binary induration is getting an fast U.S. review.

Genzyme's best-seller Cerezyme treats Gaucher disease, an enzyme modify that crapper termination in liver and medicine problems. Its second-best seller, Fabrazyme, treats an inherited modify known as Fabry disease, which is caused by the buildup of a portion identify of fat in the body's cells.

The care gives Genzyme shareholders digit "contingent continuance right" for apiece care owned. These CVRs provide holders the correct to change payments supported on Genzyme gathering certain goals, including upbringing creation levels for Cerezyme and Fabrazyme, getting test FDA support for binary induration treatment Lemtrada, and higher income targets.

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