Genzyme (NasdaqNM: GENZ) closed yesterday at $49.63. So far the stock has hit a 52-week low of $47.09 and 52-week high of $73.75. Genzyme stock has been showing support around 49.18 and resistance in the 50.20 range. Technical indicators for the stock are Bearish and S&P gives GENZ a neutral 3 STAR (out ...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)
Henri Termeer, the CEO of disaster-prone Genzyme GENZ, was given $50.8 million in compensation for the last three years, according to the company's filings with the SEC (see page 24). He earns about $14 million a year for running a company that has about $4 billion in sales. By contrast,...
Henri Termeer, the CEO of disaster-prone Genzyme GENZ, was given $50.8 million in compensation for the last three years, according to the company's filings with the SEC (see page 24). He earns about $14 million a year for running a company that has about $4 billion in sales. By contrast,...
Genzyme announced that the FDA is delaying final approval of the company's application to market Lumizyme alglucosidase alfa for the treatment of Pompe disease. Not unexpected, given FDA regulators had sent out a memo last Friday warning healthcare providers that enzyme replacement drugs made at the Allston Landing plant might...
Genzyme announced that the FDA is delaying final approval of the company's application to market Lumizyme alglucosidase alfa for the treatment of Pompe disease. Not unexpected, given FDA regulators had sent out a memo last Friday warning healthcare providers that enzyme replacement drugs made at the Allston Landing plant might...
By Dr. George Huang
It's hard to find winners in the nightmarish health care reform bill passed by the House...
The bill doesn't address the major complaint of the American consumers – soaring costs. In fact, health insurers already predict skyrocketing premiums next year. Instead, the bill forces most employers to provide health care coverage or pay a tax penalty of up to 8% of payroll. The added cost will crush many small businesses.[More...]
Genzyme Corporation’s (GENZ) problems continue with the company recently announcing the discontinuation of the development of its kidney disease drug. Genzyme reported results on its advanced phosphate binder (APB) from a phase II/III study.
Although the candidate met its primary endpoint, results showed that it was not more effective than Renvela, a product that is marketed [...]
Genzyme Corporation’s (GENZ) problems continue with the company recently announcing the discontinuation of the development of its kidney disease drug. Genzyme reported results on its advanced phosphate binder (APB) from a phase II/III study.
Although the candidate met its primary endpoint, results showed that it was not more effective than Renvela, a product that is marketed by Genzyme. Based on these results, the company has decided to discontinue further clinical development of the APB.
Genzyme was looking to develop a product with higher potency that would more effectively bind phosphate, while maintaining all the benefits of Renvela. Renvela is a follow-on product of the company’s kidney disease drug, Renagel. Sales of Renagel/Renvela totaled $677.7 million or 15% of total revenue in 2008.
Renagel and Renvela are phosphate binders for the treatment of hyperphosphatemia. The company was looking to gain approval for the APB before Renagel/Renvela loses exclusivity in 2013/2014. Meanwhile, we expect Renagel/Renvela sales to remain under pressure as the products face competition from Shire plc.’s (SHPGY) Fosrenol and generic versions of PhosLo.
This is the latest in a series of negative news received by the company over the past few months. Genzyme’s problems started in June when the company had to temporarily shut down its Allston manufacturing facility due to contamination issues. The temporary shut down of the plant led to a shortage in supply of the company’s key product, Cerezyme, which is indicated for the treatment of Gaucher disease.
The shutdown also hampered the supply of another product, Fabrazyme. Both these products contribute significantly to the top-line. Genzyme suffered another setback recently when it failed to receive U.S. Food and Drug Administration (FDA) approval for Lumizyme (for Pompe disease) - the agency said that it will not grant approval unless the company addresses the manufacturing issues at its Allston Landing plant in Boston .
Genzyme Corporation’s (GENZ) Lumizyme failed to receive approval from the US Food and Drug Administration (FDA) for the treatment of Pompe disease. The FDA issued a complete response letter (CRL) stating that the agency will not grant approval unless the company addresses the manufacturing issues at its Allston Landing plant in Boston.
Genzyme said that it [...]
Companies featured in this segment: Genzyme Corporation (NASDAQ:GENZ), PetroChina Company Limited (NYSE:PTR), Cameco Corporation (NYSE:CCJ), Scottish and Southern Energy plc (OTC:SSEZY), Centrica plc (OTC:CPYYY), E.ON AG (OTC:EONGY), RWE AG (OTC:RWEOY)
Companies featured in this segment: Genzyme (NASDAQ:GENZ), Eli Lilly & Company (NYSE:LLY), NiSource Incorporated (NYSE:NI), General Electric (NYSE:GE), Siemens AG (NYSE:SI), The Dow Chemical Company (NYSE:DOW), Progress Energy’s (NYSE:PGN), Covanta Holding Corporation (NYSE:CVA), Sumitomo Chemical Company Limited (TYO:4005), Steel Authority of India Limited (BSE:500113), Endesa (MCE:ELE), and Saudi Basic Industries Corporation (SAU:2010)
Companies featured in this segment: General Motors Corporation (NYSE:GM), Northfield Laboratories (NASDAQ:NFLD), Mitsui and Company Limited (NASDAQ:MITSY), Alkermes Incorporated (NASDAQ:ALKS), Shire plc (NASDAQ:SHPGY), ImmunoGen Incorporated (NASDAQ:IMGN), Schering-Plough (NYSE:SGP), BioMed Realty Trust Incorporated (NYSE:BMR), Amgen (NASDAQ:AMGN), Genzyme (NASDAQ:GENZ), Murphy Oil Corporation (NYSE:MUR), Centrica plc (OTC:CPYYY), Electric Power Development Company Limited (TYO:9513), and Electricite de France SA (EPA:EDF)
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