Sanofi has $5.1B and is looking for M&A deals

French drug major Sanofi-Aventis says it has cash reserves of 4.0 billion euros ($5.1 billion) and is looking to make acquisitions. Chief  executive Chris Viehbacher made the disclosure to employees at the  world's third-largest R&D-based pharmaceutical company by sales. On  the day of the news, February 2, Sanofi inched up 0.7% to 44.41 euros.

Analysts say that US drug major Bristol-Myers Squibb, with whom Sanofi  markets the blockbuster blood thinner Plavix (clopidogrel), is one  potential takeover target, as is Biogen Idec, which would provide  several new revenue drivers and an enormous biologic pipeline for about  a fourth of the price of US biotechnology major Amgen, another potential  urchase.