Genzyme Offering For General Division
Genzyme Corp has filed with the US Securities and Exchange Commission to offer up to $225 million in convertible subordinated notes due 2001. The interest-bearing notes will be convertible at any time prior to matur-ity, unless previously redeemed, into common shares of Genzyme's General Division.
Net proceeds will be allocated in full to the General Division. The funds will be used to finance the acquisition of DSP, a privately-held specialty surgical products company.
Meantime, Genzyme's Tissue Repair division has received $10 million from the General Division in exchange for an increase of 1 million shares of Tissue Repair designated stock. Genzyme has the option to allocate up to $30 million from the General Division to the Tissue Repair division in exchange for an increase in Tissue Repair designated shares at the rate of $10 per share.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze