Genzyme sees 4th-qtr loss on AnorMED buy
Massachusetts, USA-based biotechnology company Genzyme has recorded a loss of $268.2 million, or $1.02 per share, for the fourth quarter, compared with the earnings of $106.6, or $0.39 per share, it achieved in the final three months of 2005. The firm added, however, that excluding $552.9 million in charges relating to its purchase of Canadian drugmaker AnorMed (Marketletter October 23, 2006), it would have posted profits of $209.0 million, an increase of 29%.
Record 4th-qtr revenues
Genzyme also said that its sales for the quarter were up 17% to $854.2 million, ahead of the consensus forecast of $846.6 from an analysts' survey. The firm added that revenue growth had been driven by strong performance across all of its disease areas.
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