Genzyme completes deal for MS, cancer drugs

Genzyme Corp., the Cambridge biotechnology company, said in a press release that it has completed a previously announced transaction with Bayer HealthCare to acquire the worldwide rights to potential treatments of multiple sclerosis, or MS, and to the worldwide marketing and distribution rights of some cancer drugs.

When the deal was announced earlier this spring, a Globe story noted the proposed transaction gave Genzyme, which is best known for targeting rare genetic disorders like Pompe disease and Fabry disease, an opportunity to widen its scope by investing in drugs to treat broader diseases such as cancer and multiple sclerosis.

As part of the deal, Genzyme is set next year to buy Bayer's manufacturing plant near Seattle - where Leukine is produced - for $75 million to $100 million. Leukine is one of the cancer drugs involved in the transaction.
(By Chris Reidy, Globe staff)