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May 29, 2007--Genzyme
Corporation is acquiring Bioenvision Inc. for
approximately $345 million. The transaction gives Genzyme
the exclusive, worldwide rights to clofarabine (branded as
Clolar in the US and Canada). Bioenvision and Genzyme
co-developed clofarabine in Europe where Bioenvision
currently markets it for the treatment of acute
lymphoblastic leukemia (ALL) in relapsed and refractory
pediatric patients; Genzyme markets it for these
indications in the US and Canada. Clofarabine is also
being developed by Genzyme and Bioenvision for
significantly larger indications, including use as a
first-line therapy for the treatment of adult acute
myeloid leukemia (AML). Clofarabine has been granted
orphan drug status for ALL and AML in both the United
States and European Union. Company press release
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