BioMarin wants control

BioMarin Pharmaceutical Inc. hopes to use the acquisition of partner Genzyme Corp. (NASDAQ:GENZ) by sanofi-aventis Group (Euronext:SAN; NYSE:SNY) as the occasion to reacquire full rights to Aldurazyme laronidase, which would be its second-largest revenue generator.

The treatment for mucopolysaccharidosis I (MPS-I) was developed under a 1998 JV with Genzyme. Under a 2008 amendment, Genzyme records Aldurazyme sales, paying BioMarin a tiered royalty of 39.5-50%. Genzyme markets Aldurazyme in the U.S., Japan and the EU, while Bio-Marin manufactures it...