spending in 2007. Genzyme's pipeline is concentrated on programs in
mid- to late-stage development and includes more than 25 phase 2
studies and several major pivotal studies. The company is re-
prioritizing its R&D programs to make space for mipomersen, a lipid-
lowering product currently in phase 3 clinical trials for high-risk
cardiovascular disease patients. Mipomersen, which Genzyme is in the
process of licensing from Isis Pharmaceuticals Inc., will strengthen an
already substantial pipeline. The product will join Mozobil and
alemtuzumab at the forefront of a development portfolio with
significant potential to drive Genzyme's growth beyond 2011.
-- Genzyme's non-GAAP net tax rate this year is expected to be
approximately 31 percent. The GAAP tax rate is expected to be 30
-- Capital expenditures are expected to total approximately $500 million
this year. Genzyme continues to make a significant investment in
manufacturing capacity to support the growth of existing products and
to prepare for the launch of products in late-stage development.
-- Genzyme is making steady progress toward beginning commercial
production of Myozyme at its Geel, Belgium, manufacturing plant.
Process validation runs for Myozyme production at the site are expected
to occur this year, with approval of commercial production anticipated
next year. Genzyme is beginning the construction of a new
manufacturing facility in Lyon for Thymoglobulin production.
Mozobil for stem-cell transplantation
-- Mozobil is an innovative product intended to facilitate and improve the
outcome of stem-cell transplantation procedures. In two pivotal
|SOURCE Genzyme Corporation|
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