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Valuing Genzyme: A Health Care Reform Premium

This article was originally published in RPM Report

Executive Summary

Sanofi has gone public with an $18.5 billion bid for Genzyme, but investors assume the French company is willing to go higher. So the question everyone is asking is, How much is Genzyme worth? The answer should include a premium for the special treatment the company will get under the health care reform law in the US.
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