Genzyme Reports Strong Second-Quar...(cent inthis year's second quarter to $34...)

Date:7/23/2008

cent in this year's second quarter to $34.8 million from $25.1 million in the same quarter a year ago. This growth is being driven by the expanded U.S. sales force for Seprafilm(R) adhesion barrier, which is helping to expand the product's use in gynecologic and colorectal surgery and C-section procedures.

Second-quarter revenue for the Genetics business increased 7 percent to $78.5 million from $73.7 million. This growth was driven in part by the continuing demand for prenatal screening for genetic conditions. Additionally, Genzyme experienced increased demand for its KRAS mutation testing for colorectal cancer, as recent studies have shown that identifying KRAS mutations can assist oncologists in selecting treatment for patients with colorectal cancer. This increasing recognition of the value of diagnostics in personalized medicine will continue to fuel organic growth in the Genetics business.

Oncology revenue rose in the second quarter to $33.3 million from $17.4 million based on increasing sales of Clolar and Campath(R) (alemtuzumab). The increase also reflects the addition of European sales of Clolar, which Genzyme began recording following its acquisition of Bioenvision Inc. late last year. Genzyme is working to introduce Clolar worldwide as well as expand its indications. The product is currently approved in the United States and Europe as a third-line treatment for pediatric patients with acute lymphoblastic leukemia. Genzyme is developing Clolar for use globally as a first-line therapy for adult AML and myelodysplastic syndromes, significantly larger indications that the company estimates will drive peak annual sales of the product to approximately $600 million. Last month, Genzyme reported encouraging results from its pivotal CLASSIC II trial evaluating the use of Clolar to treat older adult patients with acute myeloid leukemia. Oncology revenue also reflects growing first-line use of Campath in the treatment of patients with B-cell chronic l
'/>"/>

SOURCE Genzyme Corporation Copyright©2008 PR Newswire. All rights reserved

0 GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Related biology technology :

1. Novel Angiogenic Drugs, Including a Future Blockbuster from Genzyme, Could Revolutionize Treatment of Peripheral Arterial Disease
2. Genzyme Begins Major Expansion of Boston Manufacturing Facility
3. Genzyme Affirms Purchase Price for Bioenvision at $5.60 Per Outstanding Share
4. Genzyme Receives Approval to Market Elaprase(R) in Japan
5. Genzyme Recognized by Scientists as a Top Employer
6. Genzyme to Participate in FDA Advisory Committee Meeting on the Use of Phosphate Binders in Chronic Kidney Disease
7. FDA Approves Genzymes Renvela(TM) for Dialysis Patients
8. Genzyme Launches Cholestagel(R) in Europe
9. BioVex Appoints Genzyme Executive, Jan van Heek, as Chairman of the Board of Directors
10. Genzyme and Sunway to Collaborate on Gene Therapy Program in China
11. Genzyme Study of Myozyme(R) for Late-Onset Pompe Patients Meets Co-Primary Efficacy Endpoints