GENZYME CORPORATION

GENZYME CORPORATION

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Company Overview
Genzyme Corporation is one of the world’s leading biotechnology companies. The company is one of the largest provider of diagnostic testing services in the world, with expertise in reproductive and oncology testing. Genzyme is also a major supplier of diagnostic products, with a focus on infectious diseases, diabetes and cardiovascular disease. The company was founded in June 1981 and its headquarters is located in Cambridge, Massachusetts, USA.
Genzyme operates in five segments: Renal – develops, manufactures and distributes products that treat patients suffering from renal diseases, including chronic renal failure; Therapeutics – develops, manufactures and distributes therapeutic products, with a focus on products to treat patients suffering from genetic diseases and other chronic debilitating diseases; Transplant – develops, manufactures and distributes therapeutic products that address pre-transplantation, prevention and treatment of acute rejection in organ transplantation, as well as other autoimmune disorders; Biosurgery – develops, manufactures and distributes biotherapeutics and biomaterial products, with an emphasis on products that meet medical needs in orthopaedics and broader surgical areas; and Genetics – provides testing services for the oncology, prenatal and reproductive markets.
Genzyme focuses on six broad areas of medicine, namely: Lysosomal Storage Disorders, Renal Disease, Orthopedics, Transplant/Immune Diseases, Oncology, and Genetics/Diagnostics. Brands include Cerezyme, Fabrazyme, Aldurazyme, and Myozyme for Lysosomal Storage Disorders; Renagel and Hectorol for Renal Diseases; Synvisc, Carticel and MACI for Orthopaedics; Thymoglobulin for Transplant and Immune Diseases; and Campath, Clolar and Thyrogen for Oncology.
Genzyme has more than 70 locations in over 30 countries, including 17 manufacturing facilities and nine genetic testing laboratories. The company is present in Africa, Asia, Australia, the Middle East, Europe, North America, and South America.
Business Summary
Genzyme Corporation (Genzyme) is a biotechnology company. The Company’s product and service portfolio is focused on rare genetic disease disorders, renal diseases, orthopaedics, cancer, transplant and immune disease. Genzyme operates in four business segments: Genetic Diseases, Cardiometabolic and Renal, Biosurgery and Hematologic Oncology. Genetic Diseases unit develops, manufactures and distributes therapeutic products, with a focus on products to treat patients suffering from genetic diseases, including a family of diseases known as lysosomal storage disorders (LSDs). Cardiometabolic and Renal segment develops, manufactures and distributes products that treat patients suffering from renal diseases, including chronic renal failure and endocrine and cardiovascular diseases. Biosurgery develops, manufactures and distributes biotherapeutics and biomaterial-based products. Hematologic Oncology develops, manufactures and distributes products for the treatment of cancer.
Description and history
Genzyme Corporation (Genzyme) is a biotechnology company. The Company’s product and service portfolio is focused on rare genetic disease disorders, renal diseases, orthopaedics, cancer, transplant and immune disease, and diagnostic and predictive testing. Genzyme operates in four business segments: Genetic Diseases, Cardiometabolic and Renal, Biosurgery and Hematologic Oncology. Genetic Diseases unit develops, manufactures and distributes therapeutic products, with a focus on products to treat patients suffering from genetic diseases and other chronic debilitating diseases, including a family of diseases known as lysosomal storage disorders (LSDs). Cardiometabolic and Renal segment develops, manufactures and distributes products that treat patients suffering from renal diseases, including chronic renal failure and endocrine and cardiovascular diseases. Biosurgery develops, manufactures and distributes biotherapeutics and biomaterial-based products, with a focus on products that meet medical needs in the orthopaedics and broader surgical areas. Hematologic Oncology develops, manufactures and distributes products for the treatment of cancer. In December 2010, the Company sold its Genetic Testing business to Laboratory Corporation of America Holdings.

The Company’s transplant business unit develops, manufactures and distributes therapeutic products that address pre-transplantation, prevention and treatment of graft rejection in organ transplantation and other hematologic and auto-immune disorders. The Company’s genetics business unit provides testing services for the oncology, prenatal and reproductive markets, and its diagnostic products, bulk pharmaceuticals and immune mediated disease business units.

Genetic Diseases

The Genetic Diseases segment derives all of its revenue from sales of Cerezyme, Fabrazyme, Myozyme, Aldurazyme and Elaprase. Cerezyme, Fabrazyme, Myozyme, Aldurazyme and Elaprase are each aimed at treating LSDs with patient populations of less than 10,000 worldwide. The Company markets and sell these products directly to physicians, hospitals, treatment centers, pharmacies and government agencies worldwide through a specialized sales force. Cerezyme as an enzyme replacement therapy for the treatment of Gaucher disease, an LSD that is caused by a deficiency in the enzyme glucocerebrosidase, which causes fatty deposits to build up in certain organs and bones leading to a variety of symptoms, including anemia, spleen and liver enlargement and bone deterioration.

The Company has developed Fabrazyme, a recombinant form of the human enzyme alpha-galactosidase, as a treatment for Fabry disease. The Company is marketing Myozyme as a therapy for Pompe disease. Myozyme targets the underlying cause of Pompe disease by replacing the enzyme that is absent or deficient. Aldurazyme is a recombinant form of the human enzyme alpha-L-iduronidase, to treat LSD known as MPS I. Elaprase is an enzyme replacement therapy for the treatment of MPS II, also known as Hunter syndrome.

Cardiometabolic and Renal

The Cardiometabolic and Renal segment derives all of its revenue from sales of Renagel/Renvela, Hectorol and Thyrogen. Renagel and Renvela are non-absorbed, calcium-free, metal-free phosphate binders indicated for the control of serum phosphorus. The Company markets its sevelamer therapies in the United States, Europe, Canada, Latin America and Australia directly to nephrologists through a sales force. Hectorol is a vitamin D2 pro-hormone products that are indicated for the treatment of secondary hyperparathyroidism in patients with stages 3 and 4 CKD (0.5 microgram and 1 microgram capsules) and in patients with stage 5 CKD on dialysis (2.5 microgram capsules and injection). Hectorol provides parathyroid hormone (PTH) reductions with minimal impact on calcium and phosphorus levels.

Thyrogen is an adjunctive diagnostic agent used in the follow up of patients with well-differentiated thyroid cancer. The Company developed this product to allow patients to continue taking their thyroid hormone supplements while they are being screened for residual or recurring thyroid cancer. Thyrogen helps patients avoid the morbidities associated with hypothyroidism, thus increasing the likelihood that they will seek follow-up care. This ultimately increases the likelihood of early detection of any recurrent disease, which can improve the success rate of subsequent treatment.

Biosurgery

The Biosurgery segment derives all of its revenue from sales of Synvisc/Synvisc-One, Jonexa, Synvisc and Sepra family of products. Synvisc/Synvisc-One is a biomaterial-based product derived from hyaluronan used to treat the pain associated with osteoarthritis of the knee. Jonexa is a bacterially fermented product derived from hyaluronan that is indicated for the treatment of pain associated with OA of the knee and administered in one or two injections.

The Sepra family of products is produced from biomaterials derived from hyaluronan. The Company markets the Sepra products primarily through a direct sales force in the United States, France and Australia, and primarily through distribution arrangements in the rest of the world. The products are sold to hospitals for use during surgery. Its Sepramesh IP hernia mesh product is manufactured and marketed by Davol, Inc., a subsidiary of C.R. Bard, Inc., under a license agreement.

Hematologic Oncology

The Hematologic Oncology segement derives all of its revenue from sales of Clolar, Mozobil, Campath, Fludara and Leukine. Clolar is a purine nucleoside metabolic inhibitor indicated for the treatment of pediatric patients with relapsed or refractory acute lymphoblastic leukemia after at least two prior regimens. Campath is a humanized monoclonal antibody indicated as a single agent for the treatment of B-CLL in the United States and indicated for the treatment of patients with B-CLL for whom fludarabine combination therapy is not appropriate in the European Union. Fludara is a purine nucleotide analog that inhibits the synthesis of new DNA and thus prevents leukemia cells from multiplying.

Business Line
Supplier of diagnostic products; Providers of diagnostic testing services
Subsidiary
ABIOMED INC
Advisor
PRICEWATERHOUSECOOPERS LLP
IPO date
12/1989
US SIC Code
2834
Company Address
500, Kendall Street

City province or state postal code
02142, CAMBRIDGE, MA
Phone: +1 617 252 7500
Fax: +1 617 374 7368
Country address: UNITED STATES OF AMERICA
Website url: www.genzyme.com