The battle between Sanofi-Aventis and Genzyme intensifies. American Biotech publishes on Friday its eagerly awaited earnings forecast for 2011. Verdict: Genzyme is worth more than $ 18.5 billion available to him Sanofi-Aventis to buy. The CEO of Genzyme, Henri Termeer says anticipate earnings per share of between 4.30 and 4.60 dollars per share, largely above the 3.57 dollars expected by analysts for 2011. The group is also banking on a turnover of 5 to 5.1 billion dollars next year and revenue growth of 12% annual rate over the period 2008-2013.Based on the ratio of 19 times the estimated result, used by Sanofi to offer a $ 69 per share, Genzyme believes that the French pharmaceutical group is expected to start negotiations with an offer of between $ 84 and $ 89 per share.
So far, Sanofi-Aventis was willing to consider a new offer if Genzyme brought him evidence that it was worth more than its estimates. But according to Jean-Marc Podvin, a spokesman for the group, the implicit price up to $ 89 per share “does not really seem realistic.”
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