BUSINESS
May 31, 2011 | By Robert Weisman, Globe Staff
By Robert Weisman French drugmaker Sanofi SA told employees of Genzyme Corp., the Cambridge company Sanofi acquired in April, that they will have a new reporting structure within the parent company. Sanofi chief executive Christopher A. Viehbachercq said earlier this year that Genzyme will retain its name and remain a standalone biotechnology unit within Sanofi. But in an employee bulletin out today, Sanofi said Genzyme unit will be smaller and include only its personalized genetic health and multiple sclerosis operations Genzyme's current oncology, biosurgery, and renal...
BUSINESS
June 1, 2011 | By Robert Weisman, Globe Staff
French drug maker Sanofi SA yesterday told employees of Genzyme Corp., the Cambridge company Sanofi acquired in April, that they will have a new reporting structure within the parent company. Sanofi chief executive Christopher A. Viehbacher said earlier this year that Genzyme will retain its name and remain a standalone biotechnology unit within Sanofi. But in an employee bulletin out yesterday, Sanofi said the Genzyme unit will be smaller and include only its personalized genetic health and multiple sclerosis operations.
BUSINESS
February 17, 2011 | Associated Press
CAMBRIDGE — Biotech drug maker Genzyme Corp., which agreed yesterday to sell itself to Sanofi-Aventis SA for more than $20 billion in cash, reported a big jump in fourth-quarter net income due to strong revenue growth, lower costs, and gains on divested businesses. Genzyme said sales of its treatments for genetic diseases climbed as it recovered from manufacturing problems, including viral contamination and particles of trash in some of its drugs. Those problems had hurt its sales, constrained supplies, and ratcheted up costs in the fourth quarter of 2009.
BUSINESS
July 8, 2010 | Associated Press
NEW YORK — Genzyme Corp. of Cambridge, Mass., yesterday said it expanded a manufacturing deal with Hospira Inc., which will now make seven Genzyme drugs over the next five years. Hospira will handle fill and finish manufacturing services for Genzyme drugs Cerezyme, Fabrazyme, Myozyme, Lumizyme, Thyrogen, Thymoglobulin, and Campath, plus some drug candidates. The deal was disclosed in a filing with the Securities and Exchange Commission. In late December, the companies reached a similar agreement that covered four drugs.
BUSINESS
March 20, 2012 | By Chris Reidy
Genzyme Corp., the Cambridge biotechnology company that was recently acquired by the French drug maker Sanofi SA, has renewed its lease at Cambridge Parkway in Cambridge, said a broker involved in the real estate transaction. The broker is Cassidy Turley FHO, which represented Genzyme in lease negotiations with the building's landlord, Invesco. Lincoln Property Co. represented Invesco. The nine-story building at 55 Cambridge Parkway is located near the Charles River, and Genzyme's lease renewal there is for 82,490 square feet of space, Cassidy Turley FHO said.
NEWS
December 15, 2011 | By Robert Weisman, Globe Staff
Drawing on its new parent company's resources, Genzyme Corp. plans to grow over time in Massachusetts and increasingly apply its business model to drugs that serve larger patient populations, its new chief executive said yesterday. Genzyme, formerly the largest biotechnology company based in the state, was sold in April to the French pharmaceutical giant Sanofi SA. The $20.1 billion deal set off alarms at Genzyme's Cambridge headquarters about its future in Massachusetts. Genzyme pioneered a system for developing drugs that treat rare genetic disorders, such as the enzyme...