The longtime chief executive of biotech firm Genzyme stands to make up to $221 million from the company's pending sale to French pharmaceutical giant Sanofi-Aventis.
Last month Genzyme agreed to be acquired for $20.1 billion, or $74 per share, ending more than nine months of protracted negotiations with Sanofi.
Henri Termeer will be paid nearly $160 million in cash for his stock and stock options after exiting the company, according to a regulatory filing posted Monday. He could make another $63 million from so-called contingent value rights, which take effect if the Cambridge, Mass., company wins approval of a new multiple sclerosis drug and boosts sales of other drugs.
Genzyme estimates a 90 percent chance of U.S. approval for the multiple sclerosis drug Lemtrada by the third quarter of 2012.