Sanofi-Aventis has extended it offer for the takeover of Genzyme, Financial Times reports. Sanofi had made an $18.5 billion bid for the U.S. biotechnology company. The $69 per share offer now has a deadline of Feb. 15, 2011. The French company is negotiating the details of a contingent value right (CVR) with Genzyme for its multiple sclerosis drug, Lemtrada. The CVR will determine the amount of extra cash provided to the Genzyme shareholders by Sanofi if Lemtrada generates sales in excess of its estimate.
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