Report: Genzyme Chief Could Reap $221.2M in Sanofi Deal

3/8/11

Genzyme chief executive Henri Termeer is due to take in $158.4 million from French drug giant Sanofi-Aventis’s buyout of his Cambridge, MA-based biotech firm, Bloomberg reported. Termeer is also eligible for up to $62.8 million from contingent value rights payments if Genzyme products such as the experimental multiple sclerosis drug alemtuzumab (Lemtrada) meet all performance goals set in the buyout agreement with Sanofi in February, according to Bloomberg. (Read our related coverage about how Sanofi’s $20.1 billion buyout of Genzyme could benefit the rare disease drug market, which Termeer and his colleagues pioneered with ultra-expensive drugs for small groups of patients.

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