By Lewis Krauskopf and Ben Hirschler
NEW YORK/LONDON | Tue Oct 5, 2010 5:39pm EDT
(Reuters) – Unlocking the potential of Genzyme’s experimental multiple sclerosis drug Campath could be key to prying a higher price for the U.S. biotech from Sanofi-Aventis
Campath accounts for a chunk of Genzyme’s market value already, but Wall Street sales projections vary widely.
Its role in Sanofi’s $18.5 billion hostile bid for Genzyme came to the fore this week, when the French drugmaker gave its own estimate for Campath sales and left the door open to a higher deal price if given proof of the treatment’s value.
“We identified this as one of the areas where we potentially had a valuation metric difference and this one would be a good area where we could do a little deeper dive,” Sanofi Chief Executive Chris Viehbacher said after launching the hostile offer on Monday
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