Genzyme
Encyclopedia
Genzyme Corporation is a fully owned subsidiary of Sanofi-Aventis
. Before its acquisition, Genzyme was an American biotechnology company based in Cambridge, Massachusetts
. In 2010, Genzyme was the world’s third-largest biotechnology company, employing more than 11,000 people around the world. As a subsidiary of Sanofi-Aventis, Genzyme has a presence in approximately 40 countries, including 17 manufacturing facilities and 9 genetic-testing laboratories, its products are sold in 90 countries. In 2007, Genzyme generated $3.8 billion in revenues with more than 25 products in the market. In 2006 and 2007 Genzyme was named one of Fortune Magazine’s “100 Best Companies to Work for”. The company donated $83 million worth of products worldwide; in 2006, it made $11 million in cash donations. In 2005, Genzyme was awarded the National Medal of Technology
, the highest level of honor awarded by the president of the United States to America’s leading innovators.
and scientist Henry Blair in 1981 and is primarily devoted to finding drugs that would cure enzyme
deficiency conditions that were essential to human survival and which usually afflict a very small percentage of the world’s population. Drugs used to treat such conditions are considered to be “orphan drugs.” In 1986, the company went public, raising $27 million.
s, renal disease, orthopedics
, transplant and immune diseases, oncology
, genetics and diagnostics. The first orphan-drug for Genzyme that FDA approved was Ceredase, a drug for treating Gaucher disease. Ceredase was eventually replaced by Cerezyme, which, at a cost of $200,000 per patient annually for life, currently accounts for approximately 30% of Genzyme's revenue. Other important drugs made by Genzyme are Renagel, used in treatment of dialysis patients, and Fabrazyme, used to treat patients with Fabry's disease
. Other products in development are Tolevamer
for Clostridium difficile colitis disease and Campath for chronic lymphocitic leukemia.
Genzyme had a sub-license from Bioenvision to market clofarabine
in North America. On May 29, 2007 Genzyme made a tender offer to purchase Bioenvision for $5.60 per share. On October 27, 2007, a majority of shareholders voted to approve Genzyme's acquisition.
In 2007, CEO, President, and Board Chairman Henri Termeer, earned a salary of $2.5 million, and non-cash compensation worth $129 million.
In 2010, Genzyme launched a kidney medication for the Irish market from its Waterford
base which it had set up nine years previously.
2117). A similar event had occurred in 2008 at the Geel, Belgium facilities. By April 2010 it had restarted operation at diminished capacity.
In November 2009, fragments of stainless steel, rubber, and fiber-like material were discovered in some of Genzyme's drugs. The FDA found these materials in Cerezyme, Genzyme's treatment for Gaucher disease, a rare genetic disorder that can lead to life-threatening organ damage. The FDA is permitting the drug to stay in the market, due to a lack of adverse events, and a critical need for the product.
Supplies of Fabrazyme, Genzyme's treatment for Fabry disease, have been rationed to one-third the recommended dose prompting patients to file a petition asking for a license to produce Fabrazyme by other manufacturers to make up the deficit under the Bayh–Dole Act.
from 2007 to 2009. In 2009 alone, it had 10 different organizations with a total of 49 lobbyists working on its behalf.
announced a bid to acquire Genzyme for $18.5B. The deal was later rejected by the board of Genzyme. On February 16, 2011, Sanofi-Aventis declared the full acquisition of Genzyme for $20.1 billion.
Sanofi-Aventis
Sanofi S.A. is a multinational pharmaceutical company headquartered in Paris, France, the world's fourth-largest by prescription sales. Sanofi engages in the research and development, manufacturing and marketing of pharmaceutical products for sale principally in the prescription market, but the...
. Before its acquisition, Genzyme was an American biotechnology company based in Cambridge, Massachusetts
Cambridge, Massachusetts
Cambridge is a city in Middlesex County, Massachusetts, United States, in the Greater Boston area. It was named in honor of the University of Cambridge in England, an important center of the Puritan theology embraced by the town's founders. Cambridge is home to two of the world's most prominent...
. In 2010, Genzyme was the world’s third-largest biotechnology company, employing more than 11,000 people around the world. As a subsidiary of Sanofi-Aventis, Genzyme has a presence in approximately 40 countries, including 17 manufacturing facilities and 9 genetic-testing laboratories, its products are sold in 90 countries. In 2007, Genzyme generated $3.8 billion in revenues with more than 25 products in the market. In 2006 and 2007 Genzyme was named one of Fortune Magazine’s “100 Best Companies to Work for”. The company donated $83 million worth of products worldwide; in 2006, it made $11 million in cash donations. In 2005, Genzyme was awarded the National Medal of Technology
National Medal of Technology
The National Medal of Technology and Innovation is an honor granted by the President of the United States to American inventors and innovators who have made significant contributions to the development of new and important technology...
, the highest level of honor awarded by the president of the United States to America’s leading innovators.
History
The company was started by Sheridan SnyderSheridan Snyder
Dr. Sheridan Gray "Sherry" Snyder OBE, LLB , often referred to as Sherry Snyder, is an entrepreneurial figure in the biotechnology industry and a philanthropist, who has also made significant contributions to the development of the game of tennis.-Education:Mr...
and scientist Henry Blair in 1981 and is primarily devoted to finding drugs that would cure enzyme
Enzyme
Enzymes are proteins that catalyze chemical reactions. In enzymatic reactions, the molecules at the beginning of the process, called substrates, are converted into different molecules, called products. Almost all chemical reactions in a biological cell need enzymes in order to occur at rates...
deficiency conditions that were essential to human survival and which usually afflict a very small percentage of the world’s population. Drugs used to treat such conditions are considered to be “orphan drugs.” In 1986, the company went public, raising $27 million.
Operations
Genzyme focuses on six areas of medicine relating to lysosomal storage diseaseLysosomal storage disease
Lysosomal storage diseases are a group of approximately 50 rare inherited metabolic disorders that result from defects in lysosomal function...
s, renal disease, orthopedics
Orthopedics
Orthopedics is the study of the musculoskeletal system. The Greek word 'ortho' means straight or correct and 'pedics' comes from the Greek 'pais' meaning children. For many centuries, orthopedists have been involved in the treatment of crippled children...
, transplant and immune diseases, oncology
Oncology
Oncology is a branch of medicine that deals with cancer...
, genetics and diagnostics. The first orphan-drug for Genzyme that FDA approved was Ceredase, a drug for treating Gaucher disease. Ceredase was eventually replaced by Cerezyme, which, at a cost of $200,000 per patient annually for life, currently accounts for approximately 30% of Genzyme's revenue. Other important drugs made by Genzyme are Renagel, used in treatment of dialysis patients, and Fabrazyme, used to treat patients with Fabry's disease
Fabry's disease
Fabry disease is a rare X-linked recessive lysosomal storage disease, which can cause a wide range of systemic symptoms...
. Other products in development are Tolevamer
Tolevamer
Tolevamer is a toxin binding polymer that was investigated by Genzyme for the treatment of Clostridium difficile associated diarrhoea .-Background:...
for Clostridium difficile colitis disease and Campath for chronic lymphocitic leukemia.
Genzyme had a sub-license from Bioenvision to market clofarabine
Clofarabine
Clofarabine is a purine nucleoside antimetabolite marketed in the U.S. and Canada as Clolar. In Europe and Australia/New Zealand the product is marketed under the name Evoltra. It is FDA-approved for treating a type of leukaemia called relapsed or refractory acute lymphoblastic leukaemia in...
in North America. On May 29, 2007 Genzyme made a tender offer to purchase Bioenvision for $5.60 per share. On October 27, 2007, a majority of shareholders voted to approve Genzyme's acquisition.
In 2007, CEO, President, and Board Chairman Henri Termeer, earned a salary of $2.5 million, and non-cash compensation worth $129 million.
In 2010, Genzyme launched a kidney medication for the Irish market from its Waterford
Waterford
Waterford is a city in the South-East Region of Ireland. It is the oldest city in the country and fifth largest by population. Waterford City Council is the local government authority for the city and its immediate hinterland...
base which it had set up nine years previously.
Contamination incidents
In June 2009, Genzyme's Allston, Massachusetts plant was shut down to correct a viral contamination (VesivirusVesivirus
The genus vesivirus is in the Caliciviridae family of viruses. It includes feline calicivirus,San Miguel sealion virus, and vesicular exanthema of swine virus.-Morphology:...
2117). A similar event had occurred in 2008 at the Geel, Belgium facilities. By April 2010 it had restarted operation at diminished capacity.
In November 2009, fragments of stainless steel, rubber, and fiber-like material were discovered in some of Genzyme's drugs. The FDA found these materials in Cerezyme, Genzyme's treatment for Gaucher disease, a rare genetic disorder that can lead to life-threatening organ damage. The FDA is permitting the drug to stay in the market, due to a lack of adverse events, and a critical need for the product.
Supplies of Fabrazyme, Genzyme's treatment for Fabry disease, have been rationed to one-third the recommended dose prompting patients to file a petition asking for a license to produce Fabrazyme by other manufacturers to make up the deficit under the Bayh–Dole Act.
Products
- Cerezyme
- Fabrazyme
- Aldurazyme
- Myozyme
- Renagel
- Hectorol
- Synvisc
- Carticel
- Thymoglobulin
- Campath
- Clolar
- Thyrogen
- Sepra family of products
- Epicel
- MozobilPlerixaforPlerixafor is an immunostimulant used in to multiply hematopoietic stem cells in cancer patients. The stem cells are subsequently transplanted back to the patient...
Lobbying
Genzyme has spent more than $8.2 million on lobbyingLobbying
Lobbying is the act of attempting to influence decisions made by officials in the government, most often legislators or members of regulatory agencies. Lobbying is done by various people or groups, from private-sector individuals or corporations, fellow legislators or government officials, or...
from 2007 to 2009. In 2009 alone, it had 10 different organizations with a total of 49 lobbyists working on its behalf.
Takeover bid
On August 30, 2010, Sanofi-AventisSanofi-Aventis
Sanofi S.A. is a multinational pharmaceutical company headquartered in Paris, France, the world's fourth-largest by prescription sales. Sanofi engages in the research and development, manufacturing and marketing of pharmaceutical products for sale principally in the prescription market, but the...
announced a bid to acquire Genzyme for $18.5B. The deal was later rejected by the board of Genzyme. On February 16, 2011, Sanofi-Aventis declared the full acquisition of Genzyme for $20.1 billion.