Genzyme's board recommends shareholders OK Sanofi offer

CAMBRIDGE, Mass. — The board of directors of Genzyme unanimously recommended that shareholders accept French drug maker Sanofi-Aventis’ $74-per-share buyout offer, Genzyme said Monday.

Genzyme recently accepted Sanofi’s $20.1 billion offer for the Cambridge, Mass.-based biotech company. Sanofi had sought to buy the company since last July, when it offered $18.5 billion, or $69 per share.

Genzyme specializes in treatments for rare genetic diseases, such as Fabry disease and Gaucher disease. It also is banking on a new multiple sclerosis drug, Lemtrade (alemtuzumab).