) --French drug maker


(SNY) - Get Report

has reportedly approached



about a potential acquisition of the biotech firm, according to media reports.

Genzyme shares soared more than 21% to $66 after the

Wall Street Journal

and others reported that Sanofi has approached Genzyme about a possible deal. The talks between the two companies are in the early stages and an acquisition may not happen, the Journal reported.

Earlier this month, Sanofi was reported to be interested in making an acquisition and was willing to spend as much as $20 billion. At that time, Genzyme was mentioned as a possible target, as was

Biogen Idec

(BIIB) - Get Report



(AGN) - Get Report


Shares of both Biogen and Allergan fell as news of the Sanofi-Genzyme talks broke.

Meantime, Sanofi also learned Friday that FDA approved a generic version of its top-selling blood thinner Lovenox made by


(NVS) - Get Report


Momenta Pharmaceuticals

(MNTA) - Get Report

. With sales of almost $4 billion last year, Lovenox is Sanofi's second-largest drug, so the entry of a generic competitor is a blow.

-- Reported by Adam Feuerstein in Boston.

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Adam Feuerstein writes regularly for In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback;

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