Sanofi Issues Bonds to Fund Genzyme Acquisition
Sanofi Issues Bonds to Fund Genzyme Acquisition
On Mar. 23, 2011, sanofi-aventis offered $7 billion in notes to fund its acquisition of Genzyme. The notes are offered in six tranches scheduled to come due between 2012 and 2021, and the interest rates range from 0.05% to 4%.
Sanofi-aventis named BNP PARIBAS, Bank of America–Merrill Lynch, J.P. Morgan, Société Générale, Crédit Agricole CIB, Deutsche Bank Securities, HSBC, RBS, and Santander as joint book runners for the offering in a press release. Standard and Poor’s rated sanofi AA-, and Moody’s rated the company A2.
If sanofi does not complete the exchange offer for Genzyme shares by Sept. 30, 2011, the company will redeem all the fixed-rate notes and the 2014 floating-rate notes at 101% of par value plus accrued interest by Oct. 31, 2011. Sanofi will use the remaining proceeds from the 2012 floating-rate notes and the 2013 floating-rate notes for general corporate purposes.
In related news, problems in the fill–finish process for Genzyme’s Fabrazyme product will affect patients’ access to the drug. Quality-assurance personnel rejected one lot of Fabrazyme produced at Genzyme’s Allston Landing, Massachusetts, facility, because it did not meet release criteria. The company will fill and finish all future lots of the drug at a contract-manufacturing facility that is performing this operation already.
“Because inventory is so limited, loss of this specific lot of Fabrazyme will have an impact on some patients in the coming months,” said Genzyme in a press release. Some patients may have to delay scheduled infusions immediately, and others may miss one or more infusions during the next few months. The supply reduction will affect all regions, according to the company. Nevertheless, Genzyme is “still on track to return to normal supply of Fabrazyme in the second half of 2011 with the expected approval of our new manufacturing facility in Framingham, Massachusetts,” according to the press release.
The Future of Cleanroom Construction: How Hybrid Solutions are Changing the Game
May 14th 2025Imagine a world where cleanroom facilities—essential for pharmaceutical manufacturing, biotechnology, and high-tech industries—are built with unparalleled speed, precision, and efficiency. That world is here, thanks to the hybrid construction approach. By blending traditional stick-built methods with modular and prefabricated solutions, companies are overcoming the limitations of conventional construction while ensuring compliance with stringent industry regulations. In this interview, we explore how hybrid cleanroom construction is transforming the industry, offering faster project timelines, improved quality control, and significant cost advantages. Join us as we delve into this game-changing approach with industry experts who are leading the charge in revolutionizing cleanroom infrastructure.
Top 10 Cleanroom Problems That Can Be Prevented via Preventative Maintenance (May 2025)
May 16th 2025Cleanrooms require strict environmental control to maintain sterility, prevent contamination, and ensure seamless operations. Without a proactive preventative maintenance (PM) program, various issues can arise, leading to costly downtime, contamination risks, and operational inefficiencies. Below are ten common cleanroom problems that can be effectively mitigated through proper PM practices.
Mastering Antibody-Drug Conjugates
December 19th 2024In this episode, we explore BIOVECTRA’s capabilities in antibody-drug conjugate (ADC) manufacturing, from complex conjugation chemistry to synthesis of highly potent payloads. We’ll also showcase how BIOVECTRA’s extensive experience in complex chemistries and specialized small molecule manufacturing gives them a unique perspective, strengthening their approach to ADC production and ensuring clients receive custom solutions across all project stages.
Optimizing cGMP Facility Design Space with a Hybrid Approach (May 2025)
May 16th 2025In this webcast, we review industry drivers and risks for capital construction, with a focus on cleanroom infrastructure, and discuss the goals of using a hybrid approach while demonstrating its application and benefits using real-world examples.
