Sanofi to buy back Genzyme-linked CVRs for $70 mln

PARIS, Oct 8 (Reuters) - French drugmaker Sanofisaid on Monday it will buy back certificates related to thesuccess of Genzyme drugs for a total cost of about $70 million,representing $1.75 per contingent value right (CVR).

Sanofi said last month it would buy back up to $152 millionworth of the outstanding CVRs , which are linked to its2011 purchase of U.S. biotech Genzyme. It said then it would paybetween $1.50 and $1.75 per CVR.

(Editing by Christian Plumb)

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