Genzyme gets nod for Mozobil approval in Europe

Biotechnology company Genzyme Corp., a Cambridge biotechnology company, said that an expert panel recommended European approval for the stem cell transplant drug Mozobil.

The drug is used for stem cell transplants in patients with the blood cancers non-Hodgkin's lymphoma and multiple myeloma. Mozobil, in combination with growth factor drugs, helps move hematopietic stem cells from a person's bone marrow into the bloodstream, where they can be collected. Current treatments often involve chemotherapy or growth factors to achieve the same movement.

It is already approved in the United States.

Much like its counterparts in the United States, the European Commission normally follows the advice of its expert panels, though it is not required. Approval by the European Commission would apply in all 27 European Union member states.

Shares of Genzyme fell 31 cents to $58.66 in afternoon trading. (AP)