Genzyme Proposes To "Disentangle" Schering From Campath Marketing Deal

The proposal is an effort to win FTC approval for Genzyme's $1 bil. bid for Ilex. Genzyme expects to issue 22 mil. shares as part of the deal, but the dilution may be offset by stronger than previously expected performance of Renagel, Fabrazyme and Cerezyme.