- Associated Press - Wednesday, February 16, 2011

PARIS (AP) - French pharmaceutical company Sanofi-Aventis says it has agreed to buy Genzyme for $74 a share in a deal that values the U.S. biotechnology company at $20.1 billion.

Sanofi-Aventis says in a statement Wednesday that it also agrees to make additional cash payments to Genzyme shareholders contingent on the success of several of the company’s drugs.

Genzyme is based in Cambridge, Massachusetts.

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