Genzyme reveals sales rise for second quarter

Biotechnology firm Genzyme has reported strong sales and profit growth for the second quarter of this year.

According to the company, revenues of approximately 1.2 billion dollars (601 million pounds) were gathered, marking an increase of almost a quarter on the figure for the same period last year.

Henri Termeer, Genzyme’s chairman and chief executive officer, said significant progress was made in the firm’s commercial and clinical programmes.

"We delivered solid financial results, set in place a number of catalysts that will drive near-term growth and continued to build the company to grow beyond 2011," he remarked.

He added that it had been a "highly productive" period of business for the company.

The figures follow last week’s announcement of a collaboration between Genzyme and PTC Therapeutics for the development of molecule PTC124, intended to treat genetic diseases.

Genzyme Therapeutics also revealed this month that accounting manager Jonathan Dennis was appointed to its board of directors on July 2nd.