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PARIS (Reuters) – land drugmaker Sanofi-Aventis said it had gained control of Genzyme, with trading in certificates utilised to help get over shareholders in the U.S. biotech ordered to start trading later on Monday.

Investors retentive 84.6 proportionality of Genzyme acknowledged Sanofi's bid of $20.1 1000000000 offer, or $74 a share, the land consort said in a evidence on Monday.

Shareholders are also receiving digit certificate per care entitling them to future payments if given milestones relating to individual Genzyme treatments are met.

The so-called contingent continuance rights (CVR) module begin trading on the U.S. Nasdaq stock exchange later on weekday low the ticker, and may give an indication of how overconfident the mart is about the prospects for Genzyme's drugs.

Sanofi-Aventis also said on weekday it would give remaining Genzyme shareholders a boost four days until weekday to protective their shares.

Sanofi Chief Executive Chris Viehbacher advisable the care would place the brake on boost big transactions for now.

"When you spend 20 billion, you lock in that strategy... if we do it, that means we don't do another things," Viehbacher told BFM Radio.

"Up until now, transactions of 1, 2 billion, well, that doesn't preclude the group from existence flexible, but 20 billion, that stops us in fact from doing another transactions."

The CEO also said the acquire of Genzyme, which Sanofi module make its thin diseases arm, scarred a new form for the consort and that it was instance to simplify its name.

"Sanofi-Aventis is a rattling complicated name to say in individual languages, in China, as in the United States, and with the acquisition of Genzyme, in the modify we said, well, we have a bigger family and today in the future we are the Sanofi family," he said.

The combining process for the digit companies was "progressing substantially and remains on track," Viehbacher added in the statement.

Sanofi clinched its long-sought care to buy Genzyme in February when it sweetened its substance to include CVRs and more cash. Genzyme's commission unanimously advisable it.

The CVR runs through 2020 and if every milestones are achieved could clear $3.8 1000000000 in total.

Genzyme investors can be paid $1 per CVR if Genzyme meets given production levels of Cerezyme and Fabrazyme this year after the digit key thin disease drugs were in brief cater cod to dirtying problems at a manufacturing plant.

Another note module be paid if the U.S. upbeat regulator, the Food and Drug Administration (FDA), clears Genzyme's Lemtrada binary sclerosis take for marketing, which could become in 2012.

Further away are milestone fees equal to the income performance of the take whose income possibleness was a key pearl of disceptation between the digit companies during the takeover battle.

The face continuance of digit CVR is as much as $14, to be paid over instance if targets are met, but analysts wait it module be highly discounted in the mart given the risks equal to Lemtrada, which has not yet been approved, and the daylong timeframe.

Sanofi shares were downbound 0.2 proportionality at 50.17 euros in primeval afternoon trading.

(Reporting by James Regan; Additional composition by Carolingian Jacobs; Editing by Vinu Pilakkott and Mike Nesbit)

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