Genzyme

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Genzyme Corporation
Type	Public
Founded	Boston, Massachusetts, USA (1981)
Headquarters	Cambridge, Massachusetts, United States
Key people	Henri A. Termeer, Chairman of the Board and C.E.O.
Industry	biotechnology
Products	Cerezyme® Fabrazyme® Synvisc® Renagel® More Complete Product List
Revenue	US $3.19billion (2006 calendar)[1]
Operating income	US $190.5 million (2006 calendar)[1]
Net income	US $16.8 million (2006 calendar)[1]
Employees	apprx. 9,000 (Dec. 31, 2006)[1]
Website	www.genzyme.com

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Genzyme Corporation is a biotechnology company based in Cambridge, Massachusetts. Genzyme is the world’s third biggest biotechnology company employing over 9,000 people around the world. At present, the company has approximately 80 locations in 40 countries. It includes 17 manufacturing facilities and 9 genetic testing laboratories. The company’s products are available in nearly 90 countries. In 2006, Genzyme generated $3.2 billion in revenues with more than 25 products in the world’s markets. The company is also involved in philanthropic acts, donating $83 million in global product donations and $11 million in cash contributions in 2006. In 2006 and 2007 Genzyme was named one of Fortune Magazine’s “100 Best Companies to Work for.” Additionally in 2007, Genzyme was awarded the National Medal of Technology, the highest level of honor awarded by the President of the United States to America’s leading innovators.

The company, started by a small group of scientists in 1981, was primarily devoted to finding drugs that would cure enzyme deficiency conditions that were essential to one’s survival and which usually afflict a very small percentage of the world’s population. Drugs used to treat such conditions are termed “orphan drugs.” In 1986, the company went public raising $27 million.

Genzyme focuses on six areas of medicine relating to lysosomal storage diseases, renal disease, orthopedics, transplant and immune diseases, oncology, genetics and diagnostics. The first orphan-drug for Genzyme that FDA approved was Ceredase, a drug for treating Gaucher disease. Other important drugs made by Genzyme are Renagel, used in treatment of dialysis patients, and Fabrazyme, used to treat patients with Fabry's disease. Other products in development are Tolevamer for Clostridium dificile colitis disease and Campath for multiple sclerosis.

Genzyme has a sub-license from Bioenvision to market Clofarabine in North America. Bioenvision has the rights to Clofarabine in the rest of the world. On Tuesday, May 29, 2007 Genzyme made a tender offer to purchase Bioenvision for $5.60 per share. Bioenvision management and the board of directors tendered their shares via an agreement prior to the announcement. However, not many other shareholders did and the tender offer closed without Genzyme acquiring their necessary 51% of Bioenvision. It remains to be seen if Genzyme will just be a shareholder of Bioenvision or proceed with a higher subsequent offer.

In 2006, CEO, President, and Board Chairman Henri Termeer, earned a salary of $1.4 million, and non-cash compensation worth $21 million.^[1]

Product Listing

Cerezyme®
Fabrazyme®
Aldurazyme®
Myozyme®
Renagel®
Hectorol®
Synvisc®
Carticel®
Thymol Globulin®
Campath®
Clolar®
Thyrogen®
Sepra® family of products
Epicel®

References

• Schouten, E. "Genzyme’s lifelong commitments". NRC Handelsblad. November 24, 2005.
• http://www.gaucher.org.uk/cercer.htm)
• Hirehealth’s website (http://www.hirehealth.com/Public/CompanyDetails.aspx?COMPANY_ID=44719)
• Riskind. P. Multiple Sclerosis—The immune system’s terrible mistake. Fall 1996, Vo. 5, No. 4.
• Hoovers’ website (http://www.hoovers.com/genzyme/--ID__13560--/free-co-factsheet.xhtml)
• Calabro, S. "Genzyme put patients first, and grew to become a multi-billion-dollar company. But empires don't survive on altruism." Pharmaceutical Executive, [March 1, 2006] (http://www.pharmexec.com/pharmexec/article/articleDetail.jsp?id=310976&&pageID=7&searchString=genzyme)

External links

• Genzyme corporate website

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Acknowledgement and Attribution Regarding Sources of Content

Some of the initial content on this page may be incorporated in part from copyleft sources in the public domain including wikis such as Wikipedia and AskDrWiki. Drug information for patients came from the The National Library of Medicine. Infectious disease information may have come from the Centers for Disease Control (CDC). Differential Diagnoses are drawn from clinicians as well as an amalgamation of 3 sources: 1.The Disease Database; 2. Kahan, Scott, Smith, Ellen G. In A Page: Signs and Symptoms. Malden, Massachusetts: Blackwell Publishing, 2004:3; 3. Sailer, Christian, Wasner, Susanne. Differential Diagnosis Pocket. Hermosa Beach, CA: Borm Bruckmeir Publishing LLC, 2002:7 . it:Genzyme