Tuesday, March 27, 2007

Sanofi Aventis Bristol Myers Squibb - quo vadis!



The chairman of French drugmaker Sanofi-Aventis favors a deal to acquire U.S. rival Bristol-Myers Squibb, while his chief executive emphasizes the need to focus on internal research and development, the Times reported on Tuesday.

The newspaper said Chairman Jean-Francois Dehecq was in favor of a transformational deal with Bristol-Myers.

At the same time, young Chief Executive Gerard Le Fur has emphasized the need to focus on Sanofi's internal drug research and development program, it reported.

The Times cited unnamed banking sources as saying there was a "significant difference" in tactics between the pair.

"It's a question of ego rather than the timing of any deal," one of the sources told the newspaper.

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