Genzyme’s Termeer, Biotechnology Pioneer, May Sell

Henri Termeer, a biotech industry pioneer and chief executive officer at Genzyme Corp., is on the verge of losing control of the company he transformed from a start-up in 1983 into a cutting-edge drugmaker with $4.5 billion in annual sales.

Pressured by an unsolicited $18.5 billion buyout offer from Paris-based Sanofi-Aventis SA, activist investors on his board and shareholders, Termeer says he will consider selling, if he can get the right price.