Genzyme's 4th-qtr sales climb 21%, beating forecasts; predicts EPS of $7 by 2011
A 21% hike, to $1.04 billion, in fourth-quarter 2007 sales helped US biotechnology giant Genzyme beat Wall Street expectations. Speaking at JPMorgan's 26th annual Healthcare Conference in San Francisco, Henri Termeer, the Massachusetts-headquartered firm's chief executive, said that, for the full year, the company expects revenues of $3.8 billion, up 20% on those recorded in 2006.
Prior to the announcement, analysts surveyed by Thomson Financial had predicted that Genzyme would achieve revenues of $989.0 million and $2.77 billion for the fourth quarter and full-year, respectively.
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