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NEW YORK Biotech drug maker Genzyme’s takeover by French drug maker Sanofi-Aventis may have run into trouble, according to published reports.
Bloomberg reported Wednesday that Sanofi was unwilling to raise its offer of $70 per share for Genzyme, a Cambridge, Mass.-based company that has carved a niche for itself by manufacturing treatments for such rare genetic disorders as Fabry disease and Pompe disease but lately has been dogged by manufacturing problems.
Sanofi’s current offer stands at $69 a share, a total of around $17.6 billion, according to Bloomberg.