Genzyme shows “strength” in financial results

Genzyme has demonstrated the force behind its diversified business in its latest financial results, its chairman and chief executive has noted.

Henri Termeer made his comments as the firm announced that its revenue for the second quarter of its current financial year rose to $1.23 billion (744 million pounds).

This represents an increase of five per cent on the $1.17 billion achieved in the same period last year.

Revenue grew by 11 per cent in the timeframe, including the $66 million impact of unfavourable currency exchange rates.

Mr Termeer said: “Results for the second quarter showed the strength of our diversified business, with many newer products, such as Synvisc-One, contributing to our growth.”

He concluded by stating that Genzyme is looking to the future by seeking to make progress in its late-stage pipeline and the delivery of new products to the market.

In recent weeks, the company announced that the European commission has granted approval for its Renvela (sevelamer carbonate) drug for the management of serum phosphorus in chronic kidney disease patients.