Will new Genzyme stumble cripple its bargaining position?

After taking a good hard look at its troubled Allston plant, Genzyme (GENZ) has extended the scope of its repair mission to up to four years--which could extend federal oversight until late in the decade. And that whiff of lingering trouble could smell sweet to Sanofi, which would like nothing better than to be the only bidder at Genzyme's M&A party. Pictet Asset's Marc Booty tells Bloomberg that the new timeline on remediation at Genzyme could let Sanofi cap its solo bid at $70, well below...

Shire forges $565M buyout deal for Movetis

Seeing a nice fit in the GI arena of specialty pharma and an open door to a bigger European presence, Shire has agreed to pay $565 million for Movetis (MOVE), a Belgian biotech which has one product on the market. Movetis's board has already agreed to Shire's offer of €19 per share, a 74 percent premium over yesterday's close. "This offer is a further remarkable milestone in Movetis' brief and dynamic history," said Staf Van Reet, the chairman of the board. "In October last year we...

Shire buys Boston technology park

Shire has handed over $201 million to buy the Lexington Technology Park in suburban Boston. Already a big tenant at the park with a manufacturing facility on the site, Shire takes ownership of three buildings on the site and a fourth 156,390 square foot build-to-suit that Shire currently has under construction. Shire selected the site for its Human Genetics Therapies division back in in 2007....