Genzyme aims for recovery in 2010
19 February 2010 00:00 in Pharmaceutical Company Financials
Genzyme has stated that it expects its business to move towards recovery in 2010 after posting a minor revenue decline in the last 12 months.
The pharmaceutical firm's revenue total for the full year stood at $4.5 billion (2.9 billion pounds), compared to $4.6 billion the previous year, while its fourth quarter performance also showed a year-on-year drop.
However, the company highlighted the fact that its October-to-December performance was skewed by product supply interruptions to its genetic disease business, adding that revenues across all other sectors demonstrated growth.
Henri Termeer, Genzyme's chairman and chief executive officer, said this suggested the company is heading towards recovery and the return of sustainable growth levels.
Mr Termeer added: "We are strengthening the company by making changes, bringing in new talent and investing in existing businesses."
Earlier this month, the healthcare firm published phase III trial data for its heterozygous familial hypercholesterolemia drug mipomersen, which met the company's primary endpoints.
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