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Genzyme offers to buy research and development (R&D) unit for stock

This article was originally published in Clinica

Executive Summary

Genzyme intends to acquire Genzyme Development Partners, also known as the Surgical Aids Partnership, for around $93 million in Genzyme General Division shares. Genzyme established the Surgical Aids Partnership in 1989, raising $37 million to fund the development of surgical products to reduce post-operative adhesions. If Genzyme did not exercise its option to purchase Surgical Aids Partnership, it would only have limited rights in revenues generated from the four products based on hyaluronic acid which are in development.

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