MID-DAY UPDATE: Sanofi-Aventis buys Genzyme, inflation is up for January
Share Now on:
French pharmaceutical company Sanofi-Aventis announced this morning that it will buy American biotech firm Genzyme — bringing to end over six months of negotiations. Sanofi will pay at least $20.1 billion for Genzyme stocks, but that number could go higher if Genzyme’s drugs-in-development succeed when they go to market.
The U.S. Labor Department announced to today the producer price index rose more the 3.5 percent over the past year, and consumers are already starting to feel increase at the gas pump, and at the grocery checkout line.
Borders Group, the second largest bookseller in the world, has entered a new chapter of their business — Chapter 11 bankruptcy. The company announced today they are officially filing for bankruptcy and plans to close nearly 200 stores.
Is cotton the new silk? Increases in the prices of cotton has led clothing designers to experiment with new blends and substitutes. As the price of pure cotton continues to rise, the fabric of our lives is quickly becoming the fabric of the good life.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
