France’s Sanofi-Aventis will acquire U.S. biotechnology company, Genzyme, Reuters reports. Sanofi will pay about $19 billion in cash and make future payments based on the performance of an experimental Genzyme drug.

As per the deal, Genzyme investors will get $74 per share in cash in addition to a contingent value right (CVR), whose value will depend on Genzyme’s experimental multiple sclerosis drug, Lemtrada. The CVR is expected to be valued at about $5-6 per share. In 2010, Genzyme shareholders rejected an initial offer from Sanofi of $69 per share.

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