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GEN News Highlights : Aug 14, 2009
EMEA Issues Treatment Recommendations to Preserve Supply of Genzyme’s Gaucher’s Drug
Genzyme write-off due to plant shutdown increases to at least $22.6 million.!--h2>
The EMEA issued new temporary treatment recommendations for Genzyme’s Gaucher’s disease therapy, Cerezyme. The tighter treatment control follows the company’s confirmation that shortage of its drug is more severe than previously expected.
Genzyme's decision in late July to discard the majority of its work-in-process material means that the total second-quarter write-off has risen by another $8.4 million to approximately $22.6 million. The firm says that it now expects its 2009 Cerezyme revenues to be at the low end of the $750 million–$1 billion guidance range reported in July. Moreover, if the company does not finish and release any of the remaining 20% of work-in-progress material, it will incur an additional write-off of some $2.7 million.
On August 10 Genzyme confirmed that manufacturing at Allston had resumed. It said that half its bioreactors were up and running, and the rest are expected to be operational this month. The company hopes to begin releasing new material from these production runs in November and December.
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