Sale of Genzyme to Sanofi-Aventis for at least $20.1 Billion is Final
Ropes & Gray advised Genzyme Corporation in Sanofi-Aventis S.A.’s acquisition of the Cambridge, Mass. biotechnology firm for least $20.1 billion in cash plus contingent value rights, in a deal that closed April 8.
The Genzyme sale is the largest pharmaceutical M&A deal in the United States since Merck & Co.’s $49.6 billion merger with Schering-Plough in 2009. The deal was signed in February, ending months of negotiation between Genzyme and the French pharmaceutical company. The acquisition provides Sanofi access to Genzyme's business in treating rare diseases and is expected to help the company withstand competition from generic drug makers.
The Ropes & Gray team advising Genzyme was led by Boston-based corporate partner Paul Kinsella and included Boston-based associate Zach Blume (M&A/securities); Boston-based partners Jon Zorn and Bill Jewett and New York-based associate Adam Stella; Boston-based partner Bob Gordon (employment); Boston-based partner Walter McCabe (real estate); Washington, D.C.-based partner Coke Cherney (environmental); Boston-based partners Eric Elfman and David Saltzman, and Boston-based associate Elizabeth Norman (tax); New York-based partner Jim Haley (IP); Washington, D.C.-based partner Michael McFalls and Boston-based counsel Deidre Johnson (antitrust); Washington-based partner Greg Levine (regulatory) and Boston-based partners John Donovan and Robert Jones (securities litigation).