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News In Brief

MID-DAY UPDATE: Sanofi-Aventis buys Genzyme, inflation is up for January

Katharine Crnko Feb 16, 2011

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.

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