his amateur status and preparing to offer $80/share for Genzyme.
Genzyme was at $50 when the first offer was made and he's going for a 60% premium now. Close the curtain on this idiot and show him the door.
Genzyme is a company that is getting increasing competition in the rare disease market, has continuing manufacturing problems, and is selling a pipe dream with projections for their "wonder drug" Campath.
And the sad thing, Viehbacher is taking it all hook, line, and sinker because he can't think of anything better to do.
yeah, that's the way I read this. $80 only if the drug reaches certain sales. Otherwise, it's $69 a share for GENZ. He should just let them go. Nobody else wanted to buy GENZ. That should tell him he's making a mistake. Let GENZ go and fall to $50 again. Screw that stock.