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In Brief: Genzyme/Abiomed

This article was originally published in The Gray Sheet

Executive Summary

Genzyme/Abiomed: Abiomed's board authorizes the sale to Genzyme of approximately 1.15 mil. shares of its common stock for $13 per share. With the investment, Genzyme will own approximately 14% of Abiomed, a developer of artificial heart devices. The two companies also are "discussing collaborative agreements that would allow them to jointly develop and commercialize" advanced products for "cardiovascular and other surgical markets." Genzyme and Abiomed will focus on products for minimally invasive cardiac surgery, among other areas, Abiomed says...
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