Drug producers make acquisitions

SHIRE chief executive Angus Russell said he understands why Sanofi-Aventis SA may buy Genzyme, his biggest rival in producing drugs for rare genetic diseases.

So-called orphan drugs, or treatments for rare diseases, enjoy a longer period of patent exclusivity and can command higher prices. Sanofi, France’s biggest drugmaker, is making acquisitions as products face competition from generic treatments. Shire, based in Dublin and run from Basingstoke, England reported earnings that beat analyst estimates.