PARIS (

TheStreet

) --

Sanofi

(SNY) - Get Report

extended its offer of $69 a share, or $18.5 billion, for

Genzyme

(GENZ)

to Feb. 15.

The tender offer was previously scheduled to expire last Friday, Jan. 21. All terms and conditions of the tender offer remain unchanged, Sanofi said in a statement Monday.

Sanofi, the French drugs giant, said it and Genzyme are discussing the structure of a contingent value right involving Genzyme's Lemtrada, a multiple sclerosis drug, as part of any transaction. Sanofi said "significant differences" remain on the potential contingent value right.

Sanofi said as of Jan. 21, about 0.4% of Genzyme's shares has been tendered.

Shares of Genzyme, the U.S. biotechnology company, closed Friday at $71.58.

-- Written by Joseph Woelfel

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Joseph Woelfel

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