Genzyme publishes preliminary financial results for 4th quarter

Genzyme this week published its preliminary financial results for the final quarter of 2009 and detailed its intentions for the year ahead.

The medical products firm announced that its revenues were $1.08 billion (662.3 million pounds) for the period – compared to $1.17 billion during the same period in 2008.

For the entire year, the organisation’s revenues were declared to be $4.5 billion – a drop from the $4.6 billion reported in 2008.

Additionally, compared to the previous year, fourth-quarter revenue grew 24 per cent and full-year revenue grew 15 per cent, excluding the firm’s genetic disease business – which was impacted by a product supply interruption.

Chairman and chief executive officer Henri Termeer explained: “In the coming year we will focus on building on our core capabilities, enhancing our leadership position in the genetic disease area and advancing new products that will drive our growth.”

In December, the company announced that Robert Bertolini had been elected to its board of directors.