M&A

25 November, 2009

UPDATE 1-Genzyme CEO sells 200,000 of company's shares

Nov 25 (Reuters) - Biotechnology company Genzyme Corp's (GENZ.O) Chief Executive Henri Termeer sold 200,000 shares of the company for $50.47 apiece on Nov. 23, according to a regulatory filing.

In the filing with the Securities and Exchange Commission, Termeer said he sold the shares after exercising options on the same number of shares for $26.50 per share the same day.

Shares of the company were up 1 percent at $51.00 in midday trade Wednesday on Nasdaq. (Reporting by Shailesh Kuber in Bangalore; Editing by Ratul Ray Chaudhuri) ((shailesh.kuber@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: shailesh.kuber.reuters.com@reuters.net))

Source: http://www.reuters.com