CAMBRIDGE — Genzyme Corp. said yesterday its drug Synvisc, which treats osteoarthritis of the knee, has been approved in Japan.
Genzyme said it received marketing approval from the Ministry of Health, Labor, and Welfare. The Central Social Insurance Medical Council has agreed to cover the drug.
Osteoarthritis of the knee affects about 30 million people in Japan, according to Genzyme.
Teijin Pharma Ltd. has licensed Synvisc and has exclusive rights to sell the drug in Japan. Genzyme will receive milestone payments and will supply the drug to Teijin, which is based in Japan.
Genzyme shares rose 60 cents to $70.75.