Genzyme Announces Stronger Sales
Jan. 07, 2003
CAMBRIDGE, Mass. (AP) _ Genzyme Corp. said Tuesday that revenues rose 12 percent in the fourth quarter to $297 million on stronger sales of its drugs for two genetic disorders.
Chief executive Henri A. Termeer announced the preliminary results at a conference in San Francisco. The company said it would give detailed guidance for 2003 on February 4 and report full fourth-quarter results March 5.
For 2002, Genzyme said, revenues rose 10 percent to $1.08 billion.
Stronger sales of its drugs Cerezyme and Fabrazyme, used to treat patients with Gaucher's disease and Fabry disease, respectively, offset a fall in sales of kidney drug Renagel.
Genzyme shares rose 23 cents to close Tuesday at $29.94 on the Nasdaq Stock Market.