Sanofi-Aventis has decided not to make a hostile takeover offer for Genzyme, but the companies remain in disagreement about a "threshold" price, sources said. Genzyme board members said Sanofi's $69-per-share offer is too low even as a starting point for negotiations, considering experimental multiple sclerosis drug Campath could generate enough money to keep the biotech firm functioning independently, the sources said.

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