Sanofi: Biogen Is Priced ‘A Little High’
1 CommentBy Ed Silverman // November 26th, 2007 // 7:52 am
Gerard Le Fur is being coy about whether he would pursue Biogen Idec. But while touring China with Nicolas Sarkozy, the president of France, tells Reuters that the biotech is priced a bit rich.
“No comment, but the price is a little high, as you know,” says Le Fur.
Carl Icahn owns about 3 percent of the biotech, which has put itself up for sale. Initiial interest was reportedly strong at first, with Pfizer eyeing the company last spring. Since then, however, the share price has climbed - rising from $52 in June to $82.51 last month, before settling back around $70.
Bizmology » Blog Archive » Biogen Idec abandons its search for a buyer
[...] too expensive, especially considering some of the drawbacks mentioned above. Sanofi-Aventis CEO Gerard Le Fur, for example, went so far as to admit publicly in November that “the price is a little [...]