Ropes & Gray Reps Genzyme In $700M Deal For Alnylam Stake

Law360, New York (January 13, 2014, 7:14 PM EST) -- Genzyme Corp. will shell out $700 million for a 12 percent stake in biotechnology firm Alnylam Pharmaceuticals Inc. and greater rights to emerging products for rare diseases, the Massachusetts companies announced Monday.

Genzyme, a unit of France-based Sanofi SA, said its $80-per-share investment represented a 27 percent premium on Alnylam’s average stock price over the past 30 days.

The deal expands on a 2012 alliance between the manufacturers that centered on development of Alnylam’s patisiran, which targets a life-threatening nervous system disorder and is in the...
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