August 25, 2016 2:50 PM ET

Biotechnology

Company Overview of Genzyme Corporation

Company Overview

Genzyme Corporation, a biotechnology company, engages in the discovery and development of products and services primarily in the areas of rare genetic diseases, multiple sclerosis, cardiovascular diseases, and endocrinology. It offers Cerezyme to treat gaucher disease type I; Fabrazyme to treat fabry disease; Aldurazyme for mucopolysaccharidosis I; Myozyme and Lumizyme for pompe disease; Renagel that reduces phosphorous levels in chronic kidney disease (CKD) patients who are on dialysis; Renvela for use in dialysis patients and patients with earlier stage CKD; Hectorol, a vitamin D2 treatment for secondary hyperparathyroidism in CKD patients; Thyrogen to use in thyroid cancer follow-up; Leuk...

500 Kendall Street

Cambridge, MA 02142

United States

Founded in 1981

10,100 Employees

Phone:

617-252-7500

Fax:

617-252-7600

Key Executives for Genzyme Corporation

Chief Executive Officer and President
Age: 61
Chief Financial Officer
Executive Vice President and President of Manufacturing & Corporate Operations
Age: 55
President of Surgical Products
Age: 67
Executive Vice President of Legal, Executive Vice President of Corporate Development and Secretary
Age: 66
Compensation as of Fiscal Year 2016.

Genzyme Corporation Key Developments

Genzyme Corporation Presents at FT Global Pharmaceutical and Biotechnology Conference 2015, Nov-16-2015 02:35 PM

Genzyme Corporation Presents at FT Global Pharmaceutical and Biotechnology Conference 2015, Nov-16-2015 02:35 PM. Venue: Marriott Hotel, Grosvenor Square, London W1K 6JP, United Kingdom. Speakers: David P. Meeker, Chief Executive Officer and President.

Genzyme Corporation Presents at BioPharm America 2015, Sep-15-2015 01:30 PM

Genzyme Corporation Presents at BioPharm America 2015, Sep-15-2015 01:30 PM. Venue: Boston Marriott Copley Place, 110 Huntington Avenue, Boston, MA 02116, United States. Speakers: Henri A. Termeer, Executive Director, Member of Strategic Planning & Capital Allocation Committee and Member of Risk Oversight Committee.

Genzyme Corp. to Pay $32.5 Million to Resolve Wrongful Marketing Allegations

Genzyme Corp. will be paying a $32.5 million settlement to resolve allegations that it inappropriately marketed a surgical device. Genzyme adulterated and misbranded surgical device Seprafilm while it was being sold from 2005 and 2010. Genzyme had agreed to enter into deferred prosecution with the government for two years while allegations, filed in the U.S. District Court for the Middle District of Florida, were resolved. The agreement calls for Genzyme to pay the $32.5 million fine and revise its internal compliance program. Given compliance with the mandates, the Justice Department has requested that the case be dismissed at the end of the agreement's term. Genzyme had created a device called Seprafilm, a clear piece of film that can be applied to internal tissues during pelvic and abdominal surgeries to reduce scar tissue formations between organs after surgery. The device was approved by the U.S. Food and Drug Administration for use in patients undergoing open abdominal or pelvic laparotomy, where surgeons make a large incision to conduct surgeries. But the procedure had become less common with the advent of laparoscopic surgery. In response, some Genzyme sales representatives taught surgeons and other medical staff to make the Seprafilm sheets into a liquid that could be squirted through narrow tubes used in a laparoscopic procedure. The device was never approved for such a use, and according to criminal charges, the direction by sales representatives and participation in preparing the liquid form of the device in operating rooms caused Seprafilm to become adulterated. Genzyme also disclosed to the government during its investigation that the company had distributed promotional material for Seprafilm that implied that the device had been proven safe and effective in gynecologic cancer surgeries. Though Genzyme had done a study on 14 patients, the device had not been thoroughly evaluated for such malignancies.

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