Genzyme's 2nd-qtr net income jumps 4%

US biotechnology major Genzyme's second-quarter 2007 profit totaled $139.9 million, or $0.51 per share, up 4% on the like, year-ago period, as revenues jumped 18% to $933.4 million, reflecting growth across all product areas. On the day the results were announced, July 25, shares in the firm rose 3% to $62.30 in pre-market trading.

Genzyme, which is in the process of acquiring fellow USA-based Bioenvision for $345.0 million in cash, noted that Myozyme (alglucosidase alfa), which is used for the treatment of the muscle disorder Pompe disease, earned $46.7 million from $6.5 million. Revenue from Cerezyme (imiglucerase), for type 1 Gaucher disease, increased 11% to $283.0 million; the mucopolysaccharidosis therapy Aldurazyme (laronidase) contributed $29.1 million, up 24%; while sales of the Fabry disease treatment Fabrazyme (agalsidase beta) grew 17% to $104.3 million. Income from Genzyme's phosphate binder, Renagel (sevelamer HCl), rose 14% to $145.0 million, while that from Hectorol (doxercalciferol) jumped 22% to $27.3 million.