Genzyme reports $107 million fourth-quarter earnings
By Stephen Heuser
Globe staff
Genzyme Corp. today reported fourth-quarter earnings of $107 million on sales of $729 million, slightly more than the $722 million in sales it forecast at an investor meeting in January. The Cambridge biotechnology company, which makes expensive replacement enzymes for patients with rare diseases, reported 2005 sales of $2.7 billion, up from $2.2 billion in 2004. In a conference call with investors, chief executive Henri Termeer confirmed that the company’s next major enzyme drug could be approved by the Food and Drug Administration by the end of April. He also said Genzyme’s most significant development programs were for drugs to fight multiple sclerosis and an infectious bacteria called c. difficile. Last quarter’s $107 million earnings compared to a $157 million loss for the same quarter last year, when the company took special charges related to its purchase of the cancer company Ilex Oncology.
