Genzyme values itself at $22.7bn, $20 per share higher than Sanofi bid

- Last updated on GMT

US Biotechnology firm Genzyme predicts 2011 earnings in $4.30 to $4.60 range, which would make it worth $89 per share or $22.7bn.

The valuation, issued late last week, is some $20 per share higher than that being offered by French drug major Sanofi Aventis in its current, and increasingly hostile, takeover bid.

Genzyme based its forecast on anticipated revenue from its drug pipeline, including the three new drugs it plans to launch in 2013 that are not included in Sanofi’s valuation, and progress made in correcting its long-running manufacturing problems.

So while Sanofi has previously said it may be willing to up its bid if Genzyme can prove its worth, it remains to be if the US firm’s latest prediction is enough to convince the French drugmaker.

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