Word: sanofi
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...Glory of France Can France keep its businesses French? The government's attempt to create a national champion by engineering a 346 billion merger between drug firms Sanofi-Synthélabo and Aventis could end up backfiring. Hostile takeovers are rare and frowned upon in France, so Sanofi CEO Jean-François Dehecq's unsolicited offer for Franco-German Aventis last week raised eyebrows. Except in government: Finance Minister Francis Mer openly endorses the takeover, while a source close to the deal says President Jacques Chirac, an old friend of Dehecq's, personally called Liliane Bettencourt, the biggest shareholder...
...Sanofi's offer - an invitation, bankers say, to a higher bid from Swiss Novartis, the U.S. 's Pfizer or another big international player. Not what the French had in mind. Tips For Today's Executive If there was a market in European business chiefs, it might be time to sell. Deutsche Bank CEO Josef Ackermann in late January flashed a victory sign and a broad smile as he walked into court to face breach-of-trust charges related to the 2000 takeover of German telecom firm Mannesmann by the U.K. 's Vodafone. He created a huge outcry about rich, arrogant...
...Andy Warhol. Enthralled with youth culture, he opened Yves Saint Laurent Rive Gauche, a store of less expensive ready-to-wear, on the hip left bank. Bergé meanwhile worked to maximize the Saint Laurent name with fragrances and a variety of licenses. In 1993, the drug company Sanofi acquired the Saint Laurent businesses. And in 1999 François Pinault bought them to sell to Gucci...
...that absorb the mood elevator called serotonin. Competing ssris (selective serotonin reuptake inhibitors), as they're called, include Lilly's duloxetine and Solvay Pharmaceuticals' fluvoxamine. Both drugs affect the same biochemical pathways, only with greater precision and fewer side effects. But better ssris aren't the only new approach. Sanofi-Synthelabo is looking into the potential of a so-called mao (monoamine oxidase) inhibitor called befloxatone. Monoamine oxidase is another serotonin-disrupting enzyme, so anything that inhibits it should make more of the mood-elevating chemical available to the brain cells...
...scent of recession permeating high fashion had left YSL with rising debt and shriveling profits. The new group, with estimated annual sales of $4.6 billion, will emerge from a complex $645 million share swap. The deal gives Elf Sanofi total control of YSL's lucrative perfume and cosmetics line, but will allow Saint Laurent and YSL chairman Pierre Berge to retain management control of their celebrated fashion activities until 2001 -- enough time to leave a lasting impression...