Ropes Gray Reps Genzyme In $265M Diagnostics Sale

Law360, New York (November 18, 2010, 4:24 PM EST) -- Genzyme Corp. on Thursday announced plans to sell its diagnostic products unit to Japan's Sekisui Chemical Co. Ltd. for $265 million in cash as part of the Massachusetts medical company's efforts to streamline its business to boost shareholder value.

The deal covers all of the unit's assets, including product lines and technologies, and Sekisui has further agreed to offer to continue to employ the business' 575 current workers, including its senior management, the companies said.

Sekisui also plans to continue all of the units' current operations,...
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