Stock Trading News on Genzyme Corporation Stocks (NASDAQ: GENZ)

Genzyme Corporation, shares are currently trading at $66.48 which is 6.33% higher than Friday’s closing price of $62.52. The company shares have 52 week high of $66.96 and 52 week low of $45.39. The company has 50 day moving average of $51.71 and 200 day moving average of $52.77. The sustenance and resistance levels of Genzyme Corporation are $54.98 and $80.49. The news that Sanofi-Aventis was interested in buying Genzyme Corporation, lead the company stock price reaching its 52 week high on Friday.

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The shares of the company have been on a rise following the rumours about the company and its potential buyers continue to surface. Genzyme Corporation, which announced its second quarter 2010 revenue of $1.08 billion, has been stirring up considerable amount of market buzz over the weekend with rumours of a potential buy out. French bio-tech company Sanofi-Aventis (NYSE: SNY), Glaxo Smith Kline (NYSE: GSK) and Johnson and Johnson (NYSE: JNJ) have all be sounded as potential suitors. If the rumours are to be believed, Glaxosmith Kline as made a very casual overture, but has declined to comment on the news. According to ‘Wall Street Journal’ Glaxo Smith Kline and Johnson and Johnson are considered the most logical suitors, but Genzyme Corporation which is undecided whether to sell itself or not, is considering an informal offer from Sanofi-Aventis. The buy out offer from Sanofi-Aventis values the company around $20 billion.

A successful acquisition of Genzyme Corporation by Sanofi Aventis would give Sanofi-Aventis, an opportunity to replace the revenue it has lost from generic competition. The acquisition of Genzyme would also help Sanofi-Aventis diversify their R&D engine globally and also give them an opportunity to stand up to its peers.

Genyzme Corporation, headquartered in Cambridge, Massachusetts, is the world’s third largest bio-technology company. The company’s products and services are focused on rare genetic disorders, renal diseases, orthopaedics, cancer, transplant and immune diseases. Genzyme operations are classified into: Genetic Diseases, Cardio metabolic, Renal Biosurgery and Hematologic Oncology. The company has its presence in over 40 countries, including 9 genetic testing laboratories and 17 manufacturing facilities.

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