Monday, April 4, 2011

BioMarin won't seek control of Aldurazyme as Sanofi-Genzyme deal closes

BioMarin Pharmaceutical Inc. will not seek full rights to Aldurazyme, a drug marketed by partner Genzyme Corp. to treat a rare metabolic disease, following Monday’s $20 billion acquisition of Genzyme by Sanofi-Aventis Group.
Novato-based BioMarin (NASDAQ: BMRN) could have exercised a change-of-control provision, allowing it to set its own price for full rights to Aldurazyme, a $250,000-per-year drug to treat the rare, inherited disease MPS I.

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